Apple CEO Tim Cook greets customers as he arrives for the launch of the Vision Pro headphones at the Apple Store in New York City on February 2, 2024.
Angela Weiss | AFP | beautiful images
Apple Shares rose 4.3% on Thursday to a share price of $175.04. This is Apple’s best day since May 5, 2023.
Apple’s rise came on a strong day for technology stocks, especially artificial intelligence stocks, as the Nasdaq Composite rose 1.77%.
Apple shares are down more than 5% this year. On Thursday, JPMorgan analysts wrote that sentiment toward Apple stock is improving among hedge fund investors, partly due to the company’s recent stock decline.
Despite some negative trends surrounding iPhone sales in China and recent reports of canceled projects such as like trying to build a carJPMorgan analyst Samik Chatterjee said investors may feel more comfortable with current valuations after recent losses and the potential for gains from AI.
JPMorgan analysts predict a strong iPhone sales cycle in 2026 thanks to upcoming AI features. Apple CEO Tim Cook recently told investors to expect one AI announcement later this year. That is expected to happen in the Apple’s Worldwide Developers Conference event in June.
“Hedge fund investors are increasingly embracing the opportunity of an AI upgrade cycle, but uncertainty remains regarding whether the upgrade cycle begins with the iPhone 16 in September 2024,” Chatterjee wrote. or iPhone 17 in September 2025”.
In addition, Apple is also preparing new Mac laptops and desktops with the next generation “M4 chip” that emphasizes AI, according to a Thursday report from Bloomberg. Apple declined to comment on the report. Apple’s current chip generation is called M3.
