Is Apple stock a buy after its iPhone 16 event?

iPhone 16 Pro and iPhone 16 Pro Max comes in four stunning finishes: black titanium, natural titanium, white titanium, and desert titanium.
Apple stock was flattish after the company’s fall product launch event on Monday and Tuesday and rose marginally in Wednesday trading. But many AAPL investors probably are wondering: Is AAPL stock a buy right now?
Patrick Seitz for Investor’s Business Daily:
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The launch event, titled “It’s Glowtime,” was a largely surprise-free affair because most of the hardware news had leaked out weeks earlier.
Apple stock analysts said iPhone 16 sales could be muted by the staggered rollout of Apple Intelligence features.
Apple’s iPhone 16 smartphones will be available on Sept. 20 but Apple Intelligence won’t be available until sometime in October. And even then, the AI features will be limited and in “beta” or test mode.
Wall Street analysts described Apple Intelligence as “not quite ready for prime time” and “not a fully baked offering.”
Still, most analysts described Apple’s new products as solid upgrades that should sell well.

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MacDailyNews Take: As we wrote on Tuesday:

Executing a vaporware strategy is an unfortunate necessity without a visionary CEO and it takes time to actually realize (code, test, build out datacenter infrastructure, etc.) a grand marketing vision.

https://twitter.com/MacDailyNews/status/1818745350804717672
https://twitter.com/MacDailyNews/status/1831684301122846965

You know, some people get upset when we point out that Tim Cook is a boring, reactive caretaker who’s not really the best person to be running Apple today or for at least the past several years.
Operations manager Cook should have been a 3-5 year stopgap after Steve Jobs’ untimely passing, running the iteration playbook, providing continuity for the company while it found a real CEO. Instead, he hung on — and keeps hanging on — well past his sell-by date.
Sigh.
You can be upset with us for having the temerity to call it like we see it, but the fact remains that Apple would be doing significantly better today with a visionary who’d have seen AI on the horizon, who’d have recognized the intrinsic importance of Siri and therefore invested in it instead of criminally neglecting it, and who wouldn’t have squandered the company’s gigantic leads in things like personal assistants and podcasting. – MacDailyNews, August 22, 2024
Larger displays on iPhone 16 Pro models, and hundreds of millions of iPhones that are 4+ years old, will do the heavy lifting for iPhone sales and iPhone’s average selling price (ASP).

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