Loop Capital Sees Tariff Upside for Apple Ahead of iPhone 17 Launch

Loop Capital maintains a Hold rating on Apple Inc. (NASDAQ: AAPL) with a $215 price target, arguing that tariff-driven production shifts and pricing adjustments could bolster iPhone demand ahead of the iPhone 17 rollout.

Tariffs as a Timing Lever

• Front-loading Shipments: By pulling iPhone production into the March and June quarters to dodge looming tariffs, Apple may smooth the transition to the new model.

• Higher ASPs on iPhone 17 Pro/Pro Max: Loop's checks show Apple has raised average selling prices by $100-$200, potentially offsetting tariff-related margin pressure.

• Shipment Upside: The iPhone 17 forecast for September and December was revised to 100 million units (up from 92 million), including 31 million units of the iPhone 17 Air—15 million more than earlier estimates.

Loop argues that investors can “look through” tariff headwinds if excitement for the iPhone 17 (and the anticipated iPhone 18 redesign) remains strong. For a look at how past quarterly surprises have influenced Apple's stock, refer to the Earnings Historical API, which tracks Apple's EPS beats and misses over time.

Generative AI Spend Signals a New Focus

Loop also flags Apple's pivot toward generative AI infrastructure:

• $1 billion in GB300 NVL72 orders from Supermicro and Dell (NYSE: DEL / DELL), suggesting Apple is building out internal AI compute for next-generation Siri and other services.

This step may mark a strategic shift within Apple, as Loop notes the recent “Siri kerfuffle” appears to have triggered heavier AI-centric capex. To gauge how this investment dovetails with Wall Street's expectations, check evolving analyst targets via the Price Target Summary API, which aggregates real-time price-target updates for AAPL and its peers.