Apple stock AAPL gained 1.66% on Thursday, outperforming broader US markets as investors assessed the company’s latest hardware announcements and analysts’ views on its growth prospects.
The Nasdaq Composite fell 1.24%, while the S&P 500 declined 0.29%, following disappointing quarterly results from Alphabet that renewed concerns about artificial intelligence spending.
Apple’s latest product launches and potential opportunities to monetise AI services have attracted analyst attention.
However, reports of display problems affecting its new foldable iPhone have introduced another consideration for investors.
New MacBook Pro and iMac launches draw attention
Apple on Wednesday announced a new MacBook Pro with a touchscreen display, marking a departure from its longstanding approach to laptop design.
The device features OLED technology, which Apple says provides improved brightness, colour reproduction and viewing angles.
The laptop runs macOS and uses Apple’s M5 Pro or M5 Max chips, according to the product announcement.
The new MacBook Pro is scheduled to go on sale on November 6.
The 14-inch model starts at $2,899, while the 16-inch version starts at $3,399. Both prices represent increases from existing models.
The launch is the third major product introduction under new CEO John Ternus and signals a faster pace of hardware releases.
Apple also introduced a new iMac, with its latest product announcements drawing positive attention from analysts.
Goldman Sachs reiterated its Buy rating on Apple, saying the latest MacBook, iMac and iPad models, alongside broad-based price increases, should support revenue growth and competitive positioning.
The bank also highlighted the potential benefits of a more premium product mix in offsetting near-term supply constraints and weakness in PC and tablet markets.
Analysts highlight AI chips and potential services revenue
Analyst Dan Ives of Yorkville Ives maintained an Outperform rating and a $400 price target on Apple following the company’s latest announcements.
Ives highlighted the capabilities of Apple’s M6 chip, including its 12-core CPU and 12-core GPU, as well as neural processing improvements designed to support on-device artificial intelligence workloads.
According to Ives, the chip offers up to 25% faster on-device large language model prompt processing compared with M5, while Apple claims up to 13 times faster time to first token compared with its M1-based machine.
Ives also pointed to Apple’s disclosures indicating that expanded access to certain server-side Apple Intelligence features, including AI-powered Siri functions, could eventually require a fee.
He said this suggested Apple intended to generate revenue directly from AI through its Services business rather than relying solely on hardware upgrades.
The potential for additional services revenue could become an important part of Apple’s growth outlook as the company expands its AI capabilities.
Foldable iPhone display complaints remain a concern
Apple has also faced complaints from some customers about cracked screens on its new foldable iPhone Duo.
Reports circulated on social media over the weekend describing cracks along the central crease after users unfolded their devices.
Despite the reported issues, HSBC analyst Nicolas Cote-Colisson maintained a Buy rating on Apple and kept his $366 price target.
Cote-Colisson said sales of the foldable smartphone appeared promising despite display issues affecting a small number of units.
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