The iPhone 17 is bringing Apple stock back to life, but Wall Street is worried about trouble
Apple stock is smarter than an 11-year-old who strong-armed his parents into buying them a smartphone. The iPhone maker reached a new all-time high yesterday after news of strong global demand for the iPhone 17 prompted another investment bank to give Apple stock two thumbs up.
shares apple It rose approximately 4% to close at approximately $262, superior The company’s previous all-time high of $259 was from last December:
- Over the weekend, Counterpoint Research reported that the iPhone 17 lineup outsold the iPhone 16 lineup by 14% in the US and China during the first 10 days in each market.
- Yesterday, Loop Capital upgraded Apple from “hold” to “buy,” raising its price target from $226 to $315. the day before, Evercore ISI has re-added $AAPL to its “Tactical Outperform List” after removing it in early 2024 due to weak revenue outlook.
This is a much-needed fall boost for Apple, which has had a bumpy year due to a muted reaction to the iPhone 16 — largely due to delays in AI features — and recurring tariff concerns. Before yesterday, its stock had risen just 3% this year, making it the second-worst performer in the Magnificent Seven (after Amazon).
Still…Some analysts aren’t sure Apple can sustain the initial iPhone 17 sales boost. Based on typical buying cycles, it may simply be time for pandemic-era phone buyers to upgrade to a Sherwood phone I mentioned.-ml
This was the report Originally published by Morning drink.
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