Apple (AAPL) iPhone showing stabilization 'with big AI moment ahead'

The investment firm raised its price target for Apple's stock to $275 from $250 in a note, noting that the stabilization is a very good sign heading into a monumental iPhone 16 upgrade cycle.

monetization opportunities on both the services as well as iPhone/hardware front and adds $30 to $40 per share to the Cupertino growth story as the vision starts to play out within the golden installed base of 2.2 billion iOS devices." "Outperforming during April was perhaps helped by inventory build ahead of China's holidays in May and June, though analysts have also seen a slight lift in Chinese handset build projections for the June quarter, with healthy expectations around CQ3 builds," says the firm.

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