Concerns about weak demand for the iPhone are beginning to diminish as Apple's stock price hits a historic high

According to the financial news app Zhitong Finance, on Tuesday, Apple (AAPL.US) stock price rose against the market trend as concerns about weak iPhone demand began to ease. The stock has risen for two consecutive days, with an increase of about 3% during this period. According to Dow Jones market data, Apple's stock price rose by 1.1% to $233.85 on Tuesday, reaching its highest closing price since July 16, with an intraday high of $237.49. The Nasdaq Composite Index fell by 1%, mainly due to disappointing outlook from ASML.US, leading to a general decline in the entire technology sector. For Apple investors, this period is quite complex, especially regarding the outlook for iPhone demand. They have spent weeks analyzing the constantly changing demand data from various research institutions and analysts. However, the optimistic sentiment of Wall Street analysts this week seems to have driven the rise in Apple's stock price. In June, Apple announced the launch of the generative artificial intelligence software Apple Intelligence. This significant product update has excited consumers and investors. Since then, analysts have been discussing whether the release of the iPhone 16 in September this year will trigger a wave of user upgrades, with many rushing to buy phones with new technology. However, when the new iPhone was released, Apple also announced that Apple Intelligence was not launched alongside it. The artificial intelligence software is expected to be launched sometime this month and will be rolled out in other countries in the coming months. The delayed release of this highly anticipated software has led many on Wall Street to doubt that the significant upgrade cycle for users may be delayed by at least a year. Nevertheless, Evercore ISI analyst Amit Daryanani wrote in a research report on Monday, "The phased introduction of AI features will lead to a longer and stronger iPhone upgrade cycle, as the release of new features and new markets will bring a strong word-of-mouth effect." He gave Apple stock an "outperform" rating with a target price of $250. Morgan Stanley analyst Samik Chatterjee also rated Apple stock as "hold" with a target price of $265. According to the company's Apple product availability tracker, although the delivery time for the high-priced Pro Max model has shortened, the extent of shortening compared to previous iPhone cycles is smaller. In a research report on Sunday, he pointed out that this finding confirms his previous view that the initial softness in iPhone 16 demand is just an "anomaly." In addition, Apple announced the launch of a new iPad Mini on Tuesday, which is priced lower than other iPad models but also features Apple Intelligence. As of now, Apple's stock price has risen by 22% this year, on par with the S&P 500 index. The company plans to release its fourth-quarter financial report after the market closes on October 31. Investors and analysts will closely monitor the latest developments regarding demand for the new phones and other Apple devices capable of running artificial intelligence software