Apple (AAPL) is set to take the wraps off its newest iPhone lineup Tuesday afternoon, with the company promising an “awe-dropping” event but analysts cautioning that this year’s changes may be relatively incremental. The livestream begins at 1 p.m. ET and will be broadcast from Apple’s headquarters in Cupertino.
Industry watchers expect Apple to showcase several hardware refinements rather than radical redesigns. The headline launch is likely to be the thinner, lighter iPhone 17 Air alongside new versions of the iPhone 17 Pro and Pro Max with redesigned backs and improved cameras. Apple could also refresh its Apple Watch portfolio and smaller accessories, though major overhauls—such as a foldable iPhone or full-blown AI integrations—are not expected until later.
That more muted outlook stems from Apple’s own signals. At its developers conference in June, executives said next-generation AI features needed more time in the lab, and analysts at UBS told clients to expect only “marginal” changes in today’s rollout. Citi likewise forecast stronger product launches in 2026, when some of Apple’s delayed AI capabilities may finally arrive.
Still, speculation is swirling. Some investors hope for a surprise announcement of an AI partnership—possibly with Google—after CEO Tim Cook hinted Apple could buy other companies to accelerate its AI strategy. That has sparked rumors Apple might acquire an AI startup to leapfrog rivals.
Wall Street will be watching closely. Apple shares were down about 1% in recent trading and have fallen roughly 6% year-to-date, making the iPhone maker the only member of the “Magnificent Seven” besides Tesla (TSLA) in the red for 2025. A lukewarm reception to today’s launch could pressure the stock further, while any unexpected news—particularly on AI—might help turn sentiment.
Apple has shipped more than 2.3 billion iPhones since the product debuted in 2007, but competition in high-end smartphones is intensifying, especially from foldable devices and AI-enhanced cameras offered by Samsung, Google and Chinese manufacturers. That backdrop makes today’s event a key test of Apple’s ability to keep customers upgrading—and investors excited—even when the improvements are evolutionary rather than revolutionary.
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