Cramer says Apple still has 'a lot up its sleeve' even after its August stock run

Apple is poised for continued investor interest ahead of its September 9th iPhone launch event, where a potentially transformative slimmer model with an in-house modem chip is anticipated as a significant catalyst. Goldman Sachs is bullish on the new iPhone 17 lineup, forecasting revenue upside and reiterating a "buy" rating, citing form factor updates and potential price increases. This hardware-driven optimism follows a recent 13% stock rally fueled by Apple's increased $100 billion U.S. manufacturing investment, sustaining momentum despite lingering questions regarding the company's AI strategy.

Analysis

Apple (AAPL) is experiencing significant positive momentum ahead of its September 9th hardware event, which is being framed as a major catalyst by market commentators and analysts. The central focus is the expected launch of a new, slimmer iPhone model featuring Apple's first in-house modem chip, a development being compared to the transformative 2008 MacBook Air launch. Goldman Sachs reinforces this bullish sentiment, reiterating a buy rating and forecasting upside to iPhone revenues based on potential form factor updates, price increases for the Pro model, and strong carrier promotions. This hardware-driven optimism is built upon a recent, powerful stock rally where shares gained 13% in a single week—the best performance in five years—after Apple increased its U.S. manufacturing investment commitment by $100 billion. This move was perceived by Wall Street as an effective mitigation of tariff risks. While the stock trades near $229 on pace for its best month since May 2024, a key uncertainty remains regarding the company's broader artificial intelligence strategy, an area where investors still await clarity.

Key Decisions for Investors

• Investors should closely monitor the September 9th event for confirmation of the differentiated iPhone form factor and in-house modem, as these product specifics are the primary near-term catalysts supporting the current bullish thesis.
• Given that the stock has already rallied 13% in a week and is trading at highs, it may be prudent to assess whether the positive hardware expectations are already partially reflected in the current price of approximately $229 per share.
• Long-term holders should remain focused on any news regarding Apple's AI strategy, as this remains a key uncertainty that could influence the company's competitive positioning beyond the current iPhone cycle.