While ASML’s moderate forecasts caused Nvidia’s stock price to decline, the announcement of the updated iPad mini and the emergence of favorable forecasts for the pace of expansion of iPhone 16 production contributed to a short-term strengthening of Apple’s stock price by 2.7% to $237.49 during yesterday’s trading session. This allowed the historical maximum to be updated, but trading closed at a lower level.
In fact, as Bloomberg explains, Apple’s capitalization briefly exceeded $3.6 trillion yesterday and thereby updated its historical maximum. However, by the close of the session the increase was limited to 1.1% and corresponded to a stock price of $233.85 per share. In any case, Apple shares had risen more than 35% in the previous six months, more than doubling the Nasdaq 100 stock index’s gain over that period.
Let’s remember that although sales of the iPhone 16 family started last month, some Apple Intelligence features will become available to users in the US at the end of this month after the release of the iOS 18.1 update. In December, their list will expand with the release of iOS 18.2, but outside the US, Apple customers will begin to gain access to them no earlier than March 2025. In any case, even the level of demand for Apple’s new products in the American market was sufficient to stimulate an increase in the company’s stock price as October 28 approached.
Morgan Stanley analysts said the day before that the waiting times for the iPhone 16 Pro and iPhone 16 Pro Max models at a stage of the life cycle comparable to their predecessors are shorter in duration, although they have recently increased by a couple of days. Perhaps the older smartphones of the new family will be in more demand than the younger ones by the time iOS 18.1 is released. In general, waiting times for ordered iPhone 16 family smartphones are about a week shorter compared to the iPhone 15 family at the same stage of the market cycle. Experts explain this by Apple’s desire to quickly saturate the market with its new smartphones compared to previous periods.
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