Apple (AAPL) stock began the week strongly when it dragged the main indices higher as the tech and overall market leader powered ahead by nearly 4%. By the close Apple reached $163.43, having briefly traded above $164 earlier on Tuesday.
The stock was pushed higher on the back of a positive note from noted Apple analyst Dan Ives at Wedbush. We should also note he is largely bullish on Apple, which has been the consistently correct call. In a note, to the client, Ives said demand is solid and ahead of the iPhone 13. Also, customers appear to be going for the more expensive models – the iPhone Pro and Max models. Higher prices mean higher margins for Apple.
“We expect this heavy Pro/Pro Max mix to continue with China also a major sway factor as more consumers in this key region head to the Pro model,” Ives added.
This will come as welcome news as some people have been openly stating that the new iPhone 14 does not have enough features to differentiate it from the iPhone 13 and so sway customers to switch. Yahoo Entertainment reported on a cheeky meme from Steve Jobs’s daughter Eve.
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