<div id="readability-page-1"><div><div>On Tuesday, AT&amp;T Inc. T CEO John Stankey cast doubt on Apple Inc.'s AAPL ability to spark blockbuster iPhone sales cycles without a major artificial intelligence breakthrough, while Wall Street analysts said the iPhone 17 lineup delivers upgrades but still feels incremental.<h2>‘I Don't See Supercycles' Without AI: Stankey</h2>Speaking with Yahoo Finance at Goldman Sachs' Communacopia + Technology Conference, Stankey said the days of iPhone &#34;supercycles&#34; — years when redesigns or major features drove record demand — may be in the past.&#34;I would intuitively say that we’re at a point … that I don't see super cycles as being kind of the dynamic around it,&#34; he told the publication.He warned that unless Apple can deliver transformative AI, the iPhone may struggle to recapture the excitement of its early years.&#34;These are now becoming more software-driven devices,&#34; Stankey said. &#34;Software tends to be incremental … and that's what tends to drive engagement and usage.&#34;<h2>No More Lines At The Apple Store?</h2>For consumers, Stankey suggested upgrades like thinner designs and better cameras may not be enough to spark a buying frenzy.&#34;I would expect that this might be the case and there'll be some consumers who find a compelling need to go and buy a new device,&#34; he said. &#34;But I don't think it's going to be something where people are going to be standing in a line beating down the doors at record levels for that day.&#34;He added that Apple's AI must be &#34;unique to other AI tools or devices&#34; to stand out in a market where rivals like Alphabet Inc.'s GOOG GOOGL Google, Microsoft Corp MSFT and Samsung Electronics SSNLF are already rolling out advanced AI features across devices and software.<h2>Analysts See Incremental Gains</h2>Wall Street analysts echoed the view that iPhone 17 represents progress but not a breakthrough. They praised Apple's thinner designs, upgraded cameras, and stronger battery life but flagged AI delays as a limiting factor.Bank of America's Wamsi Mohan maintained a Buy rating and raised the price target from $260 to $270.Rosenblatt's Barton Crockett reiterated a Neutral rating, raising the target from $223 to $241.Goldman Sachs' Michael Ng also maintained a Buy rating with a $266 target.Analysts said Apple's ecosystem loyalty and incremental upgrades may support steady replacement demand, but agreed that a true sales &#34;supercycle&#34; requires deeper AI integration.<h2>Stock Under Pressure</h2>Apple shares fell 3.23% on Wednesday and are down 7% year to date, compared to an 11.31% gain in the S&amp;P 500 over the same period, according to Benzinga Pro.In July, Apple reported fiscal third-quarter revenue of $94 billion, surpassing analyst estimates of $89.04 billion. iPhone sales reached $44.58 billion, up from $39.3 billion a year earlier.Benzinga’s Edge Stock Rankings show that AAPL continues to trend positively across short, medium and long-term horizons. More detailed performance insights are available here.<ul> <li>Why Google's Demis Hassabis Disagrees With Co-Founder Sergey Brin On When AGI Will Arrive: ‘I Have Quite A High Bar'</li> </ul>Photo Courtesy: Paolo Bona on Shutterstock.com</div></div></div>

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AT&T CEO John Stankey expressed skepticism about Apple's ability to generate significant iPhone sales without major advancements in artificial intelligence. He noted that the iPhone 17 lineup offers incremental upgrades but lacks the transformative features needed to create a buying frenzy. Analysts echoed this sentiment, praising improvements but highlighting AI integration as a key factor for a sales "supercycle." Apple's stock fell 3.23% recently, reflecting concerns over its market performance compared to the S&P 500's gains this year.

- AT&T CEO John Stankey expressed skepticism about Apple's ability to generate significant iPhone sales without a major breakthrough in artificial intelligence.  
- Analysts noted that while the iPhone 17 offers incremental upgrades, it lacks the transformative features needed for a sales "supercycle," with Apple's stock under pressure following a 3.23% drop.  
- Despite a strong fiscal third-quarter revenue report, the consensus is that deeper AI integration is essential for revitalizing consumer excitement and driving substantial sales growth.  

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Apple iPhone 17 Lineup May Not Draw Consumers 'Standing In Line' Or 'Beating Down The Doors' As AT&T CEO John Stankey Sees No 'Supercycles' Without AI