Citi's reaffirmation of its "Buy" rating on Apple Inc. (AAPL) has bolstered investor confidence, highlighting the company's resilience amid macroeconomic challenges. The report emphasizes Apple's robust services segment, with App Store revenue surpassing expectations by growing 15% y/y in Q4. Additionally, Apple's strategic focus on emerging markets, particularly India, is showing promising results, with iPhone shipments making significant inroads. Despite regulatory risks in Europe and potential US-China tensions, Citi remains optimistic about Apple's growth trajectory, driven by a sticky active installed base and anticipated gross margin expansion from a higher blended ASP in iPhone sales.
The Direxion Daily AAPL Bull 1.5X Shares (AAPU) surged 6.82% to $31.47 at 3:20 PM on Monday, January 27.