AAPL Jumps Near 52-Week High Amid iPhone Demand Concerns

Apple Inc. (NASDAQ:AAPL) has refreshed its Mac lineup with new high-powered desktops, but investors are more focused on steady iPhone demand and upcoming products like the Duo foldable.

The company released a new Mac mini powered by the M6 chip, which delivers up to four times faster AI performance, twice the graphics performance, and 40% faster CPU performance. The Mac Studio targets professional workloads, with the M5 Ultra configuration supporting up to 512GB of unified memory.

Wall Street analyst Erik Woodring says iPhone demand is 'fine,' but some Chinese consumers may be waiting for Apple's Duo foldable, which is expected in mid-October. He believes Apple could sell nearly every foldable it produces over the next 12 months.

Woodring also notes that Apple trades at a 'relatively rich' valuation of about 33 times fiscal 2027 earnings, near its historical peak multiple of roughly 34 to 35 times. Further gains may require higher earnings estimates.