Major Takaways

On April 11, local time, the US stock market closed, Apple shares surged 4.33% to $175.04 with a market value of $2.7 trillion, representing a one-day increase of $112.1 billion (about 811.3 billion yuan).  It is Apple’s best day since May 5, 2023.

Since this year, Apple has seen a decline of over 5% in its share price. The surge greatly fueled other technology stocks to move higher on April 11, especially those in artificial intelligence. One the same day, the Nasdaq Composite increased 1.77%, the S&P 500 (^GSPC) rose about 0.7%, while the Dow Jones Industrial Average (^DJI) had a plain performance, closing just slightly below the flatline

On the same day, analysts from JPMorgan wrote that sentiment over Apple shares is improving with hedge fund investors, partially due to its recent stock slide.

Reasons behind Apple Shares Rally

Although iPhone sales in China show some negative trend, and there are report that Apple would cancel projects such as its effort to build a car, investors is likely to be more comfortable with its current valuation after recent losses and the potential to benefit from AI, according to JPMorgan analyst Samik Chatterjee.

Besides, due to forthcoming AI features, a strong iPhone sales cycle is expected to appear in 2026.  Apple CEO Tim Cook recently told investors to expect an AI announcement later this year.  That is expected to occur during Apple’s Worldwide Developers Conference event in June.

Separately, Apple is warming up a major upgrade. In order to boost its flagging computer business, Apple is preparing to overhaul its entire Mac product line, like Apple preparing new Mac laptops and desktops with next-generation “M4 chips” that emphasize AI, according to sources. According to people familiar with the matter, production of Apple’s next-generation M4 chip is close to completion. The new chip will come in at least three versions, and Apple hopes to use it to upgrade all of its Mac models.

Apple plans to gradually release Macs equipped with the M4 chip beginning at the end of 2024 and continuing through early 2025. Specifically, the new iMacs, the low-end 14-inch MacBook Pro, the high-end 14-inch and 16-inch MacBook Pros, and the Mac minis will all feature the M4 chip, though the company’s plans could still change. Apple’s focus this year is on adding new AI capabilities to its products, which the company plans to show off at its developer conference in June.

Recommended for you:

Best Crypto Exchanges Australia 2024

BTCC vs. NDAX: which is a better choice for crypto trading in Canada?

How to Choose Best Crypo Exchanges in Canada

BTCC vs. Bybit vs. eToro：which is the best choice for you？

BTCC vs. Coinbase vs. Crypto.com

What is SPACE ID(ID): Is SPACE ID A Good Investment In 2024?

Best Crypto Trading Bots in Canada for April 2024