Apple stock hits record intraday high on bullish Wall Street outlooks, positive iPhone sales data

Published On Oct 15, 2024, 3:43 PM

Apple (AAPL) reached an all-time high intraday stock price of $237.49, driven by bullish analyst outlooks from firms like Morgan Stanley and Bernstein, as well as positive early iPhone sales data. Despite concerns over iPhone 16 demand, analysts noted that Apple is well-prepared and has improved supply conditions. The iPhone shipments rose 3.5% in the third quarter, and projections indicate further growth during the holiday season. Apple is set to release earnings on Oct 31, with expected earnings rise of 9% over the previous year. Consensus estimates foresee the stock climbing to $245.40 within the next year.