Shares in Apple Inc. (AAPL) stock have hit a new ATH on Tuesday, reaching the $280 mark in early trading in New York. The iPhone maker has shown strong performance recently, with a 21.2% gain over the past three months alone. That climb has even outperformed the Dow Jones index as well as other magnificent-7 tech stock rivals.
The recent surge has also caused analysts to upgrade earnings estimates for Apple. Wall Street is projecting a 10.4% increase in earnings for the current quarter, reflecting positive market confidence in AAPL stock. In addition to the growing investor sentiment, T-Mobile’s Black Friday deal featuring a free Apple Bundle is expected to drive additional sales and customer engagement during the holiday season.
Wall Street Still Bullish on Apple (AAPL)
With Apple (AAPL) passing the $4 trillion market cap mark again, experts believe Apple shares are getting an upside correction. Tech investors are seeking to steer clear of those much-heavier AI spenders in 2025, like Amazon and Meta, amid growing concern that AI investments won’t yield a profit soon enough. Companies like Apple and Alphabet (GOOGL), however, continue to thrive and show their AI investments have paid off, with Gemini performing well and Apple sales exploding this past Fall.
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Apple was seen as too slow in the AI race at the start of the year in many analysts’ eyes. Now, it feels like it’s moving at a better and steadier rate, giving it top gains compared to rival stocks since the bearish April month. At press time, AAPL is trading near the top of its 52-week range and above its 200-day simple moving average. Buy ratings are plenty a picking for AAPL on Wall Street, with most firms suggesting there’s more room to grow, with perhaps $300 on the horizon.
While AAPL is near the top of its 1-year average, it could mean there is just enough room to hit $300, or fall back down to as low as $200. Out of 50 analyst ratings on CNN, 60% give Apple stock a buy rating, while 32% op to sell the stock now at its “peak.”