Apple shares hit their first record of 2025 after Loop Capital upgraded to buy from hold, becoming the latest company to cite positive trends in iPhone demand, according to a Bloomberg News report.
The titles rose 3.9% to $262.24, surpassing a historical high that had been maintained since December.
Apple had been one of the underperforming stocks in the S&P 500 index for much of the year, falling as much as 31% at its worst in April.
However, since then, the iPhone maker’s shares have soared by more than 50%, finally achieving positive results for the year at the end of September.
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Loop Capital also raised Apple’s price target to $315. The firm pointed to good future prospects for the iPhone, the technology company’s flagship product, arguing that the adoption cycle suggests an increase in demand over the next year.
A report from the firm Counterpoint pointed out that the iPhone 17, which was released in September, has outsold its predecessor edition in the US and China, according to CNBC.
Wall Street advances more than 1%
Wall Street closed with increases of more than 1% in its main indicators, driven by Apple’s good stock market prospects, and expectant for the next quarterly results.
At the bell, the Dow Jones rose 1.12% to 46,796 points, the S&P 500 advanced 1.07% to 6,735 points, and the Nasdaq gained 1.37% to 22,990 points.
Quarterly results from big names like Netflix, Coca-Cola, General Motors, Tesla and Intel will be released this week, and traders are expecting solid performance.
Last week, big banks and other financial entities in the United States opened the earnings season, including Bank of America, JPMorgan and Goldman Sachs.
According to data from Bank of America, 76% of the companies listed in the S&P 500 and that have already published their results have exceeded the expectations of Wall Street analysts.
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On the other hand, the closure of the federal government continues but the forecasts that it will be resolved in the coming days, according to the director of the National Economic Council, Kevin Hassett, have generated optimism.
Today, bearish factors such as the growing trade tensions between the US and China, or the crisis in some regional banks due to non-payments by large borrowers, remained in the background.
President Donald Trump said today that he hopes that during his meeting with his Chinese counterpart, Xi Jinping, scheduled for the end of October in South Korea, both can negotiate a “fair” trade agreement.
With information from EFE
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