Evercore ISI Sticks to 'Outperform' Rating as Apple iPhones Fly Off Shelves

Evercore ISI has reaffirmed its 'Outperform' rating for Apple Inc. (AAPL) despite the company's stock being near its 52-week high at $334.44, up 22.5% year-to-date.

The investment firm cited strong iPhone demand as a key driver of its positive outlook, particularly with pre-orders for the new iPhone 18 Pro and Pro Max models having begun on September 12.

According to data, average delivery times for these models are longer than last year, ranging from 15 days in the US and UK to 25 days for the Pro Max in some regions.