Apple shares outperform; iPhone 16 reviews out, demand questioned
** Shares of Apple Inc AAPL.O up 1.9% at $220.94, outperforming the broader market on Wednesday, with S&P 500 .SPX up 0.05%, on publication day for media reviews of latest iPhone model. However JPMorgan analyst points to "soft demand cycle"
** Theverge.com wrote: "It's a good year for Apple's basic iPhone, even if its AI is MIA." Reviewer said standard iPhones looked "a little neglected" in the past few years, but this year, gap between lowest, highest end models not as wide
** New York Times Wirecutter said "don’t think you should upgrade just because Apple has released new phones" but, if you have a reason to upgrade, they recommend the iPhone 16
** Wall Street Journal reviewer says higher end iPhone 16 Pro, Pro Max are "best iPhones" but that more affordable iPhone 16 and 16 Plus "are more appealing than in years past"
** JPMorgan analyst Samik Chatterjee said results of checks since initial pre-orders on Sept. 13 added to prior "indicators of soft demand cycle"
** Wedbush analyst Dan Ives said the reviews were a positive catalyst and that "it’s a matter of when and not if this becomes an AI driven super cycle starting in the holiday quarter."
(Reporting By Sinéad Carew)
</body></html>Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
