Citi's recent report on Apple Inc. (AAPL) has injected optimism into the market, as the firm maintains a "Buy" rating and raises its target price to $275. The anticipated launch of the iPhone SE4 and the iOS 18.4 update, featuring significant Siri enhancements, are seen as key catalysts for growth. Additionally, Apple's focus on AI security and the DeepSeek breakthrough are expected to optimize AI adoption on devices, despite a slight decline in iPhone sales. The report highlights strong Mac and iPad sales, which have helped offset weaker performance in Greater China. These factors have contributed to a positive sentiment around Apple's stock, driving its price higher.
The Direxion Daily AAPL Bear 1X Shares (AAPD) ETF, which inversely tracks Apple's performance, experienced a decline, dropping 3.42% to $15.53 as of 6:40 AM on Friday, January 31.