Apple’s stock surged to a record intraday high on Thursday, driven by increased confidence from Wall Street analysts, including Wedbush’s Dan Ives. Ives raised his price target for Apple shares to $325, predicting a “golden era of growth” for the company in 2025. The analyst believes Apple is entering a multi-year AI-driven iPhone upgrade cycle that will drive consumer growth.
The stock touched $260 early Thursday before modestly paring gains, closing at a new record high. Over the past month, Apple’s shares have rallied more than 11%, bringing the market capitalization near $4 trillion. Despite initial concerns over struggling iPhone sales and competition in China, analysts remain bullish on the company.
Positive iPhone shipment data and Apple’s introduction of AI-powered features for its consumer devices have bolstered confidence in the company’s strategy. However, macroeconomic uncertainty, including Trump’s tariffs on China and potential interest rate hikes, may pose challenges for Apple in 2025.
Source: https://finance.yahoo.com/news/apple-stock-touches-intraday-high-after-nod-of-confidence-from-wall-street-154221679.html