November 01 (V7N) – Apple Inc. shares climbed nearly 2% in premarket trading on Friday following a positive outlook for the upcoming holiday quarter, as the latest iPhone 17 lineup spurred hopes of a strong sales rebound despite ongoing shipment delays in China.
 
While supply chain challenges dampened Apple’s fourth-quarter sales, investor sentiment remained upbeat. The tech giant’s market capitalization crossed the $4 trillion mark earlier this week, placing it alongside Nvidia and Microsoft in the elite group of companies to reach that milestone.
 
Analysts say Apple’s improved forecast has helped ease concerns over its relatively slow integration of artificial intelligence features compared to rivals such as Google, Microsoft, and Meta.
 
“I’ve owned this stock for decades,” said Eric Clark, Chief Investment Officer at Accuvest. “When you’re as big as Apple, you don’t have to move fast—you just have to get it right eventually.”
 
Despite the recent rally, Apple and Amazon remain the weakest performers this year among the so-called “Magnificent Seven” group of megacap tech firms. However, Amazon’s stock also surged premarket Friday following robust growth in its cloud business during the third quarter.
 
According to LSEG data, Apple’s stock currently trades at 33.4 times analysts’ profit expectations—above Microsoft’s 31.7 and Meta’s 22.3—indicating continued investor confidence in the company’s long-term prospects.
 
Apple’s latest iPhone 17 models, launched in September, are seen as critical to its strategy to revive global sales amid slowing demand and increased regulatory scrutiny in major markets.
 
The company’s ability to navigate production bottlenecks in China and capitalize on the holiday season could determine its performance heading into 2025, as investors watch whether Apple maintains its position among the world’s most valuable corporations.
 
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