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Apple Stock Rises on Strong iPhone 17 Demand and Wedbush Upgrade
Apple Stock Rises on Strong iPhone 17 Demand and Wedbush Upgrade
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BTCCSquare news:
Apple shares surged 4.3% as reports indicated robust demand for the lower-priced iPhone 17 model, with production orders increasing by 30%. The shift reflects consumer preference for affordability amid economic pressures.
Wedbush Securities raised its price target to $310, citing iPhone 17 demand tracking 10%-15% ahead of last year's cycle. Lead times for deliveries have doubled to 18 days, signaling stronger-than-expected uptake despite potential margin compression from the mix shift to cheaper models.
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