Out of all the things that you could say about the iPhone, “It’s way too fat” is probably not one of them. That being said, tech giant Apple (NASDAQ:AAPL) is taking action to slim down the iPhone and create a version that is “much slimmer” than before. Investors, meanwhile, welcomed the news and gave Apple stock a fractional boost in Friday afternoon’s trading.
It will be a while before we see what this new device looks like, as it won’t make an appearance until September 2025, when it will be shown alongside the iPhone 17. Current reports note the device is referred to as “D23” internally, which is, for reasons best described as “coincidence, probably, I hope,” the same name as the official Disney (NYSE:DIS) fan club. The device is set to be about the same size as the Pro Max, with a screen between 6.12 inches and 6.69 inches. More information about the processors and cameras and the like will follow the closer we get to launch.
Waning Demand
It has been a point of discussion for some time now that Apple is not what it once was and that demand for its products—which are all starting to look vaguely similar—has been on the decline in recent years. In fact, just the latest quarterly results revealed an 11% decline in demand. Given that iPhone sales account for about 50.6% of Apple’s total revenue, or did in this quarter, a decline in that demand is a decline in the entire return. So, it’s little surprise that Apple is looking to fire up demand by changing up the form factor a little, though it remains to be seen if it will be enough to draw interest.
Is Apple a Buy, Hold, or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 20 Buys, 12 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 9.1% rally in its share price over the past year, the average AAPL price target of $203.93 per share implies 7.27% upside potential.
