Bank of America Research analyst Wamsi Mohan, in an August 25, 2025, research note, stated, “We expect the main feature to be the launch of a slim iPhone (iPhone 17 Air) to replace the current Plus model,” ahead of Apple’s event scheduled for September 9, 2025, at 10am PDT / 1pm EDT.
Mohan added, “While prior form factor changes have driven a meaningfully higher next iPhone cycle, in our opinion, investor expectations for the benefit from a thin phone are more tempered.”
Reiterating his buy rating and $250 price target, Mohan noted that Apple is expected to unveil the Apple Watch Series 11 and a new iPad mini, among other products, at the event.
He projects iPhone unit sales to grow 1% year-over-year in FY26 to 235 million units, describing this as “mostly in-line” with Wall Street’s estimate of 233 million.
“We expect the iPhone 17 line-up of four models (Pro, Pro Max, Air and base model) running on iOS 26,” Mohan said. “We expect the Air to be 5.55mm thick making it ultra-thin and light. It may have Apple’s in-house modem (similar to the iPhone 16e). Apple could also launch Apple Watch Series 11 and/or Ultra 3, and Airpods 3.”
MacDailyNews Take: Apple is currently less that $23 from that target. Way to go out on a limb there, Wamsi.
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