Apple(US:AAPL) Ge Long Hui A P P·2025-10-20 13:02Core Viewpoint - Loop Capital has upgraded Apple Inc. (AAPL.US) stock rating from "Hold" to "Buy," indicating a positive outlook on iPhone demand trends [1] Group 1: Stock Performance - Following the upgrade, Apple's stock is expected to open near its historical high, with a pre-market increase of 1.4% [1] - The current closing price is approximately 2.6% lower than the record high set in December of last year [1] - Despite recent strong performance, Apple's year-to-date increase is limited compared to the 18% rise of the Nasdaq 100 index [1] Group 2: Demand Outlook - Analyst Ananda Baruah suggests that Apple is at the beginning of a long-term device upgrade cycle, which is expected to drive iPhone shipments growth until the end of 2027 [1] - The demand momentum is attributed to a combination of the upgrade cycle and new design cycle, indicating an increase in the speed at which users replace old devices [1]