4.3% per day
Yesterday, April 11, Apple had its best day in the last year: the company's shares immediately rose by 4.3% to $175.04.
Apple shares rose alongside tech stocks, particularly those focused on artificial intelligence, with the Nasdaq Composite up 1.77%.
Apple shares are down more than 5% this year. On Thursday, JPMorgan analysts wrote that investor sentiment around Apple stock is improving among hedge fund investors, partly due to the stock's recent decline.
Despite some negative trends surrounding iPhone sales in China and recent reports of Apple's car being canceled, JPMorgan analyst Samik Chatterjee said investors may be happier with the company's current valuation after recent losses and potential gains from artificial intelligence.
JPMorgan analysts predict a strong iPhone sales cycle in 2026 thanks to upcoming artificial intelligence features. Apple CEO Tim Cook recently told investors that an announcement of AI solutions is expected later this year. This is expected to happen during the Apple Worldwide Developers Conference in June.
Apple is also preparing new Mac laptops and desktops with next-generation M4 chips that focus on artificial intelligence, according to Bloomberg.