Overview
- Apple rose about 4% to fresh intraday and closing highs, lifting its market capitalization to roughly $3.9 trillion and reclaiming the No. 2 spot above Microsoft.
- Loop Capital raised its rating to Buy and hiked its price target to $315, citing the early strength of the latest phone cycle and the potential for gains through 2027.
- Counterpoint reported first 10‑day sales for the new lineup running 14%–16% ahead of last year, with strong base‑model uptake in China and robust Pro Max demand in the U.S.
- The rally in Apple helped propel the Dow, S&P 500 and Nasdaq to session gains as tech shares broadly advanced.
- Optimism is tempered by cautions from some analysts, including Jefferies, who warn launch momentum may cool as investors await Apple’s quarterly report on Oct. 30.