Apple (AAPL) shares rose 1.3% on Monday after Bank of America said delivery times for the iPhone 18 Pro and Pro Max were shorter than last year at the same point in the pre-order cycle. The bank kept its 'Buy' rating and $370 price target, while investors weigh the higher prices and staggered launch of the lineup. BofA said attention will now turn to pre-orders for the iPhone Duo, which open on Oct. 16 and are seen as an important gauge of premium device demand. Nikkei had reported that Apple asked suppliers to cut component production for the new Pro models amid weaker-than-expected demand. The stock closed at $340.97 on Monday, bringing its market capitalization close to $5 trillion.
Summary written by Upside AI from the original article. Read the source for full details.
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Related tickers and likely impact
AAPL
▲ Likely positiveApple Inc.
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $4.9T |
| Close on 10/12/2026 | 340.97 |
| Change that session | +1.29% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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