Over the past six months, Apple shares have increased by 37%, outperforming the Nasdaq 100 Index, which gained 15.5% over the same period. The company's latest AI-enhanced iPhone and the introduction of a new iPad mini with similar capabilities have bolstered market optimism.
Evercore ISI issued a positive trading call on Apple, noting that concerns over the Chinese smartphone market are likely overstated and that growth in developing markets and the US upgrade cycle driven by AI will offset those risks. Additionally, Melius Research highlighted Apple's buyback program and the potential for long-term growth fueled by a multi-year iPhone cycle.
Despite early demand for the AI iPhone being tepid, investors are viewing Apple as a safe haven amid broader economic uncertainty. Expectations
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