Apple stock rallies most since May on strong iPhone 14 pre-orders

Apple stock has risen the most since May as pre-order data showed the flagship iPhone 14 Pro Max was the best-selling model, surpassing what the previous version did in a similar time frame.

iPhone 14 Pro and iPhone 14 Pro Max represent the biggest leap forward ever for iPhone, with Dynamic Island, the first 48MP camera on iPhone, Always-On display and revolutionary security features.
iPhone 14 Pro and iPhone 14 Pro Max represent the biggest leap forward ever for iPhone, with Dynamic Island, the first 48MP camera on iPhone, Always-On display and revolutionary security features.

Ryan Vlastelica Bloomberg News:

Shares in the tech giant rose to 4.4% on Monday, the largest intraday rise in four months, as analysts at JPMorgan and Barclays indicated strong demand for the latest series of mobile phones that was unveiled at its product launch event last week.

“The pre-order data shows that the iPhone 14 Pro Max is the best-selling model and that it is doing better than the iPhone 13 Pro Max at this point,” said KGI Securities analyst Christine Wang in a report. The price of the iPhone 14 series is positive for its future sales, she added.

Apple is the best-performing mega-cap tech stock this year because investors are confident in its ability to tap into its more than 1 billion customers to earn more on its services, including app, video, fitness and game subscriptions. The next catalyst for the stock will be earnings for the September quarter, scheduled for late October.

MacDailyNews takes: If you’re planning on buying a smartphone, which you’ll likely use many times together for hours a day, you might as well treat yourself to the best, the flagship iPhone 14 Pro Max 6.7-inch!

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