LIVE MARKETS-Apple now in positive territory for 2025, joining the rest of "Magnificent 7"

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APPLE NOW IN POSITIVE TERRITORY FOR 2025, JOINING THE REST OF "MAGNIFICENT 7"

A sharp rally in Apple's stock in the previous session propelled it to its highest in over eight months and made it positive on a year-to-date basis for the first time in 2025, the last of the "Magnificent 7" to do so.

Shares of the iPhone maker AAPL.O were down slightly early on Tuesday after jumping more than 4% on Monday, hitting its highest level since December 2024 and now up more than 2% for the year.

Brokerage Wedbush came out with a bullish view on the stock over the weekend, maintaining its "outperform" rating and raising its price target to $310 - the highest on Wall Street according to data compiled by LSEG.

In the note dated September 21, analysts led by Daniel Ives said they noted early strong demand signs coming out of the iPhone 17 cycle and said China demand remains crucial.

The brokerage said Apple's current AI monetization strategy could add $75 to $100 per share over the coming few years and currently sees no "AI Premium" factored into the stock's current price.

Apple has largely lagged in the AI race, facing stiff competition from rivals such as Samsung Electronics Co 005930.KS in a tough market for premium-priced mobile phones.

On the software front, it faces challenges from Alphabet GOOGL.O, which is quickly weaving AI features into its competing Android operating system.

Despite the headwinds, the stock has rebounded sharply from its April lows when U.S. President Donald Trump's trade tariffs jolted global markets.

Apple currently boasts the third-biggest weight on the S&P 500 .SPX with a market cap of close to $3.8 trillion, trailing behind Microsoft MSFT.O and Nvidia NVDA.O.

Heavyweight technology stocks have been largely responsible for Wall Street's ascent to record highs this year as resurgent optimism over AI has kept the market churning higher.

(Shashwat Chauhan)

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