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Apple (AAPL) stock is trading just below a buy point and is heading for a sixth straight week of gains after carving out an eight-week cup-pattern base, according to Investor’s Business Daily. Evercore ISI analyst Amit Daryanani reiterated his outperform rating on Apple and raised his price target to $380 from $365, after the firm’s annual survey of nearly 4,000 consumers on iPhone purchase intentions pointed to a better-than-expected iPhone refresh cycle — led by this month’s iPhone 18 Pro and Pro Max launches. Apple also began selling the Apple Watch Series 12, Apple Watch Ultra 4, and AirPods 5 this month.
It is also a new era in the C-suite: John Ternus took over as CEO from Tim Cook on September 1, with Cook staying on as executive chairman — a major leadership transition at the world’s most valuable company. The fundamentals underpinning the setup look sturdy: year-over-year EPS growth has accelerated for five consecutive quarters, earnings growth ranged 8% to 29% in the most recent six quarters, and revenue has averaged 12% year-over-year growth over the past six quarters. IBD’s ratings show a Composite Rating of 99, a Relative Strength of 87, and an Accumulation/Distribution Rating of B+, indicating institutional buying over the past 13 weeks.
Why it matters: a hardware refresh cycle is the most dependable engine of Apple’s services-and-device flywheel, and a survey-backed upgrade wave arriving alongside a brand-new CEO gives the bull narrative a one-two punch. With institutional accumulation already underway, a decisive breakout past the buy point could mark the next leg of the run.
What to watch: holiday-quarter refresh-cycle data will confirm whether the survey’s optimism shows up in actual shipments, and whether AAPL finally clears that buy point with conviction.
Related reading: Qualcomm Renews Apple Licensing Deal Worth ~$1.5B a Year
Source: Investor’s Business Daily — Apple Stock Nears Buy Point After New iPhone, New CEO Launch
Auto-posted by the Bull Lounge news desk.
Not financial advice.Discussion: Does the iPhone 18 cycle justify a new all-time high for Apple stock, or is this upgrade wave already priced in? Let us know what you think below.
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