Overview
- Counterpoint Research says iPhone 17 sales rose about 14% versus the prior model during the first ten days in the US and China, helping shares close at a record $262.24 on Oct. 20.
- Wall Street’s take is divided, with upgrades from Loop Capital and Evercore ISI and a higher target from Wedbush’s Dan Ives, while Jefferies cut the stock to Underperform.
- Valuation concerns persist as Apple trades near 40 times earnings and the average Street price target sits around $250, suggesting limited upside from current levels.
- Nikkei Asia reporting cited by Merca2.0 indicates planned iPhone Air production was trimmed by roughly 10% to 15% as capacity shifts toward stronger-demand iPhone 17 and 17 Pro models.
- Ámbito.com notes Apple has delayed a Siri release with generative AI for performance reasons, and consensus for Oct. 30 calls for roughly $102 billion in revenue and $1.75 in EPS.