Apple shares climbed 4.3% on Thursday to a share price of $175.04 having their best day since May 5, 2023. Still, Apple shares are down more than 5% so far this year.
On Thursday, JPMorgan analysts wrote that sentiment over Apple shares is improving with hedge fund investors, partially due to its recent stock slide.
Despite some negative trends around iPhone sales in China, and recent reports of canceled projects such as its effort to build a car, JPMorgan analyst Samik Chatterjee said investors may be more comfortable with its current valuation after recent losses and the potential to benefit from AI.
The JPMorgan analysts predicted a strong iPhone sales cycle in 2026 due to forthcoming AI features… Separately, Apple is also preparing new Mac laptops and desktops with next-generation “M4 chips” that emphasize AI, according to a report Thursday from Bloomberg.
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MacDailyNews Take: Nice day. Let’s build on this momentum!
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