Apple hits new highs: Why the stock's slump has turned around

Group 1: Apple Performance and Outlook - Goldman Sachs and Wells Fargo have raised their price targets for Apple, anticipating a fiscal fourth quarter earnings and revenue beat, following a record high close for the stock [1] - Apple is on track to reach a $4 trillion valuation, driven by strong demand for the iPhone 17, with significant optimism surrounding this product cycle [2][6] - Apple shares have increased over 30% in the past six months, with multiple analysts upgrading the stock to "buy" and setting a street high target of $315 [7] Group 2: iPhone 17 and Innovation - The iPhone 17 cycle is off to a strong start, with low expectations prior to its launch, and the company is focusing on innovation in areas like camera and user experience [8][10] - There is a growing installed base for iPhones, and the services business remains healthy, contributing to a positive outlook for Apple's growth [9] - Apple is expected to continue redefining the smartphone experience, which is crucial for maintaining growth in a mature market [12] Group 3: Leadership and Strategic Direction - Tim Cook is expected to remain with Apple for several more years, with a successful transition in leadership roles, including a new CFO [17][18] - The focus will be on innovation and product cycles to drive growth, with Apple working to enhance its AI capabilities and user experience [15][19] Group 4: Comparison with Nvidia - Analysts express a preference for Apple over Nvidia, citing that while Nvidia has performed well, Apple is seen as catching up and benefiting from its core business strength [4][5] - The ongoing AI super cycle has led to high expectations for Nvidia, but Apple is now being recognized for its strong fundamentals and potential for growth [4][6]