iPhone 17 has sparked a big surge in Apple stock

Apple’s iPhone 17
Apple’s new iPhone 17 features the new Center Stage front camera that takes selfies to the next level, a powerful 48MP Fusion Main camera with an optical-quality 2x Telephoto, and a new 48MP Fusion Ultra Wide camera that captures expansive scenes and macro photography in more detail. The 6.3-inch Super Retina XDR display with ProMotion is bigger and brighter, enabling supersmooth scrolling, immersive gaming, and improved efficiency. And with the new Ceramic Shield 2, the front cover is tougher than any smartphone glass or glass-ceramic, with 3x better scratch resistance than the previous generation and reduced glare. It is all powered by the latest-generation A19 chip for higher performance and longevity.
iPhone 17 is available starting with 256GB of storage — double the entry storage from the previous generation — and a 512GB option, in five beautiful colors: black, lavender, mist blue, sage, and white.
George Glover for Barron’s:
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“The Street is clearly underestimating this iPhone cycle in our view… after a few years of disappointing growth,” [Wedbush analyst Dan] Ives wrote Sunday in a research note.
Ives, who’s known for his bullish stances on tech stocks, also raised his price target for shares to $310 from $270. That implies Apple can climb about 26%…
Ives said shipping times were signaling strong demand for the new device, and he expects “a pent-up consumer upgrade cycle” to boost sales. Between 315 million and 1.5 billion users around the globe haven’t upgraded their iPhone for the past four years, according to Wedbush estimates…
“The AI monetization piece could add $75 to $100 per share to the Apple story over the coming few years as it finally plays out… No ‘AI premium’ is factored into Apple’s stock at current prices which makes this a compelling large cap tech name to own,” he wrote.

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MacDailyNews Take: Apple owns very valuable real estate: the world’s best customers who have money and the proven will to spend it. Any AI firm who wishes to reach such coveted customers should pay for the privilege, just as Google pays handsomely to be Safari’s default search engine.

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