With Apple (AAPL) 澳洲幸运5官方开奖结果体彩网:CEO Tim Cook teasing a new product launch Wednesday, anal𒁃ysts have speculated a new lower-cost iPhone model could soon hit s♎tore shelves.

Cook didn’t specify what’s coming in his announcement post on X earlier this week, but analysts have previously speculated a new iPhone SE model could be unveiled in early 2025. Morgan Stanley said Tuesday it expects the 澳洲幸运5官方开奖结果体彩网:iPhone SE4 to start at $499 and come equipped with Apple Intelligence—which Cook has said is driving 澳洲幸运5官方开奖结果体彩网:record iPhone upgrades.

Morgan Stanley maintained its “overweight” rating and $275 price target. Of the 16 analysts covering Apple tracked by Visible Alpha, nine have a “buy” or equivalent rating for the stock, compared to five “hold” ratings and two “sell” ratings. Their consensus price target is roughly $253, about a 4% pr🐠emium over Friday’s clo𝐆se. 

The product launch comes after Alibaba (BABA) Chair Joe Tsai said the Chinese e-commerce giant is 澳洲幸运5官方开奖结果体彩网:partnering with Apple to bring artificial intelligence features to iPhones in China, according to a CNBC report. Earlier this week reports from The Information and The Wall Street Journal said Apple had submitted AI features developed with Aliba🍰ba to Chinese regulators for approval, a process that could take several months.

Shares of Apple rose 1.3% to close at $244.60 Friday and have added about a third of their value over the past 12 months.