BUZZ-Apple launches latest iPhone, stock edges higher
ReutersFeb 19, 2025 6:59 PM
Apple AAPL.O launched latest iPhone, dubbed 16e, on Wed, aiming to capture more of mid-range smartphone mkt; AAPL stock rising 0.3%
New model priced at $599, features A18 chip, Apple Intelligence, and C1 modem, targeting cost-sensitive mkts
Analysts cautious on potential sales boost from AI-related features as those features roll out in phases
AAPL stock down ~2% YTD, underperforming Nasdaq's .IXIC 4% rise; recently 6% below 52-week high of $260.10 on Dec. 26, 2024
Stock trading at 32x expected earnings, above 5-year avg forward PE of 27, per LSEG data
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