Apple Inc (NASDAQ: AAPL) is set to unveil its latest lineup of devices today, September 9, at its highly anticipated “Awe Dropping” event.
Expectations include four new iPhone 17 models – highlighted by the ultra-thin iPhone Air – alongside updated Apple Watches and AirPods.
Apple stock has underperformed its tech peers in 2025, but Melius Research’s head of technology, Ben Reitzes believes it is poised to catch up through the remainder of this year.
For AAPL shares, his bullish thesis is a simple one: ‘iPhone is not replaceable” – and the upcoming cycle could reignite investor enthusiasm.
Why Ben Reitzes recommends buying Apple stock
Ben Reitzes is betting big on the iPhone’s staying power. “The iPhone is not replaceable,” he told CNBC – emphasizing Apple isn’t losing market share and it still commands unmatched consumer loyalty.
Reitzes expects the new iPhone 17 lineup to drive higher average selling prices (ASPs) and unit growth, especially with the rumoured replacement of the “Plus” model by the sleeker “iPhone Air”.
“We think that people can get excited again,” he said, pointing to a multi-year upgrade cycle that includes a foldable iPhone and even an “iPhone 20” in the pipeline.
For Reitzes, the product momentum is real – and it’s time for AAPL stock to reflect that.
Is AI lag still an overhang for AAPL shares?
While Apple has faced criticism for being a laggard in generative AI, Reitzes argues the narrative is shifting.
“Apple’s a toll road to AI glory,” he noted, adding the company will “get paid” for its digital real estate regardless of who leads in artificial intelligence.
Reitzes praised CEO Tim Cook’s measured approach on AI, saying it may prove to be the smarter move in the long run – and downplayed concerns around Siri as well, calling it “really nothing” in the broader context.
With new AI-enabled accessories like AirPods with cameras and a potential home hub – he views Apple shares quietly building toward a more integrated AI future; one that could surprise skeptics.
How high could Apple shares fly in 2025?
According to Ben Reitzes, AAPL stock could rally to $260 in the near term – which he believes is a “very conservative: price target for the tech titan given its product roadmap and brand strength.
Speaking with CNBC, he asserted that Apple stock’s underperformance this year is temporary only and “hopefully it’s back to normal, back to good things,” in the months ahead.
With foldable iPhones, new accessories, and a multi-year iPhone cycle ahead, Reitzes sees Apple shares entering a phase of renewed growth, urging investors to “give it a shot.”
Wall Street also currently rates AAPL shares at “overweight” with price targets going as high as $275, indicating potential “upside” of more than 15% from here.
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