As Apple (AAPL) prepares for this launch, CEO Tim Cook has hinted at the arrival of a new, cost-effective iPhone model soon.

Although Cook did not provide specifics about the upcoming announcement on X earlier this week, analysts have previously suggested that a new iPhone SE model may be introduced as early as 2025. According to Morgan Stanley, the anticipated iPhone SE4 is likely to be priced at $499 and will come with Apple Intelligence capabilities, which have been linked to record-breaking iPhone upgrades as stated by Cook.

Morgan Stanley has kept its “overweight” recommendation with a $275 price target. Among the 16 analysts evaluating Apple recorded by Visible Alpha, nine have a “buy” rating or its equivalent, while five have assigned a “hold” rating and two have issued “sell” ratings. The average price target is approximately $253, reflecting a 4% increase from Friday’s closing value.

This upcoming launch follows Alibaba’s chair Joe Tsai announcing their partnership with Apple to integrate artificial intelligence features into iPhones for the Chinese market, as reported by CNBC. Earlier reports from The Information and The Wall Street Journal indicated that Apple has submitted AI functionalities developed in collaboration with Alibaba to Chinese authorities for approval, a process that may extend over several months.

Apple’s stock experienced a 1.3% increase, closing at $244.60 on Friday, and has gained approximately one-third of its total value over the past year.