Apple Inc. (NASDAQ:AAPL) shares saw a modest rise on Tuesday. Here's what you need to know.
What's Happening: Apple's stock movement on Tuesday potentially comes amid discussions and speculation about the future performance of upcoming iPhone models, especially in light of recent developments in the AI-driven smartphone market.
Analyst Ming-Chi Kuo reported a slowdown in the shipment momentum for Samsung's Galaxy S24, which had initially seen strong demand due to its AI features. This has raised questions about how the next iPhone and other smartphones with AI capabilities will perform.
Kuo also mentioned that the anticipated release of Apple's iPhone 16 series might not fuel a significant increase in demand, as indicated by Apple's financial guidance. Despite these concerns, some analysts, such as Daniel Ives from Wedbush, are optimistic about the strong reception the new iPhone models may receive.
AAPL Price Action: Apple shares were up by 1.72% at $221.27 according to Benzinga Pro.
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