"Apple's stock is giddier than an 11-year-old who just strong-armed their parents into buying them a smartphone. The iPhone maker hit a new all-time high yesterday after news of strong global demand for the iPhone 17 led another investment bank to give Apple's stock two thumbs up. Shares of Apple climbed nearly 4% to close at ~$262, surpassing the company's previous all-time high of $259 from last December:"
"This is a much-needed autumnal boost for Apple, which has had a bumpy year due to a muted reaction to the iPhone 16-largely because of delays to its AI features-and on-again, off-again tariff fears. Before yesterday, its stock was only up ~3% this year, making it the second-worst performer in the Magnificent Seven (after Amazon). Still...some analysts aren't sure Apple can maintain the iPhone 17's initial sales surge."
Apple's shares climbed nearly 4% to close around $262, topping the prior all-time high of $259 from last December. Counterpoint Research reported the iPhone 17 lineup outsold the iPhone 16 by 14% in the US and China during the first ten days in each market. Loop Capital upgraded Apple from a "hold" to a "buy" and raised its price target from $226 to $315, while Evercore ISI re-added AAPL to its Tactical Outperform List. The stock's gain follows a year of muted reactions to iPhone 16, AI feature delays, tariff uncertainties, and weak year-to-date performance versus peers.
Read at Fortune
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