Apple (AAPL) stock reached a new record high during Tuesday's intraday trading session, marking a 37% increase over the past six months. Wall Street's enthusiasm for the tech giant is growing, with Morgan Stanley (MS) maintaining an Overweight rating and Evercore ISI issuing a Tactical Outperform rating on the stock. Catalysts Anchor Seana Smith analyzes the factors driving Apple's stock gains. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Angel Smith
Apple is the IBD Stock Of The Day as the consumer electronics giant unveils a new iPad Mini tablet with artificial intelligence capabilities.
The new iPad mini is powered by Apple's A17 Pro chip, which is used in the iPhone 15 Pro and Pro Max models. With a six-core central processing unit, the A17 Pro would boost CPU performance by 30% compared to the current generation iPad minis and is central to running Apple Intelligence, Apple's AI software. Apple said it would roll out the first set of AI features in the U.S. version of the English language this month through a software update with iPadOS 18.1.