"Apple's stock was trading at around $255 a share just after the opening bell on Monday, putting its market capitalization at $3.86 trillion. Shares have soared nearly 40% since Jan. 1."
"The latest rally in Apple shares reflects investor enthusiasm for artificial intelligence and an expectation that it will result in a supercycle of iPhone upgrades," said Tom Forte, an analyst at Maxim Group.
"Earlier this month, Apple launched iOS 18.2, a significant software update for its suite of iPhones that includes improvements and features that enhance its Apple Intelligence functions, including Visual Intelligence, which summarizes and translates text."
"We believe Apple is set to have a strong holiday season ahead as iPhone 16 upgrades across its installation base could lead to impressive sales numbers."
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