The article discusses the potential impact of Apple’s upcoming iPhone 16 event on the company’s stock price. It suggests that while the event itself may not significantly move the stock, the new iPhone model could drive sales and boost Apple’s performance in 2024. Key points include: Apple’s stock has underperformed the broader market this year, but analysts remain optimistic about its long-term prospects. The iPhone remains Apple’s most important product, accounting for around half of its revenue. The iPhone 16 is expected to feature incremental upgrades, but a major redesign is anticipated for the iPhone 17 in 2024. Analysts believe the iPhone 16 could drive a “super cycle” of upgrades, boosting Apple’s revenue and earnings in 2024. However, concerns about slowing consumer spending and supply chain disruptions pose potential risks.