Apple has unveiled its latest line-up of products, including four new iPhone models, refreshed AirPods Pro and an updated Watch range. While the event delivered hardware improvements, analysts noted the absence of major advances in artificial intelligence.
The new smartphones include the base iPhone 17, the slimline iPhone 17 Air, the high-end iPhone 17 Pro and the top-tier Pro Max. The standout is the iPhone Air, measuring just 5.6mm thick and weighing 165 grams.
Josh Gilbert, market analyst at eToro, said the model demonstrates Apple’s strength in turning subtle changes into headline features. “Apple has always had a unique ability to turn incremental updates into must-have products, and the iPhone Air is the clearest example of that in this launch,” he said. “At just 5.6mm thick and weighing 165 grams, it’s Apple’s boldest hardware move in years and sets a new benchmark in smartphone design.”
The launch came without the long-rumoured foldable iPhone, but Apple is emphasising ecosystem depth and design leadership rather than dramatic hardware shifts. Analysts suggest this reflects a strategy aimed at keeping users locked into Apple’s ecosystem and reinforcing the firm’s pricing power.
Alongside the phones, Apple updated its AirPods Pro for the first time in three years. The wireless earphones now feature improved noise cancellation, a smaller and lighter form factor, and on-device translation – a function signalling Apple’s intent to integrate more everyday AI into consumer devices. With AirPods already generating around $20 billion annually, these upgrades are expected to provide an additional boost to Apple’s accessory revenues.
The Apple Watch range also received a refresh, although updates here were more incremental, focused on battery life and software improvements.
The theme of the event, “Awe Dropping,” reflected Apple’s approach of offering enough innovation to sustain demand among existing users. With more than 1.5 billion iPhones active globally, analysts believe even modest improvements could prompt significant upgrade cycles over the next 12 to 18 months.
Despite the hardware focus, investors remain concerned about Apple’s artificial intelligence roadmap. While competitors such as Microsoft and Google are aggressively rolling out AI features, Apple gave no major updates on its “Apple Intelligence” project or broader integration plans. Analysts argue this omission reflects a lingering gap in Apple’s long-term strategy.
Shares in Apple are currently trading at about 30 times forward earnings, well above both the S&P 500’s 23x multiple and its own 10-year average of 20x. Market watchers suggest that at such a premium valuation, stronger innovation – particularly in AI – will be required to justify the price gap.
For now, Apple’s latest hardware ensures it remains a leader in design and consumer appeal. But questions remain over how it intends to position itself in the fast-evolving world of artificial intelligence.
