Apple's stock price rose 2.7% intraday on Tuesday, hitting its first record high since July. The stock price continued its recent gains; the stock is up 14% from its August low. Earlier, the company launched a new iPad mini equipped with Apple Intelligence artificial intelligence features. Apple also received Evercore ISI's “Tactical Outperform” rating. Melius Research is also optimistic about the stock, saying it has received an “unprecedented buyback” and said growth is accelerating. Analyst Ben Reitzes anticipates “the iPhone will usher in a multi-year cycle.”

Apple's stock price rose 2.7% intraday on Tuesday, hitting its first record high since July. The stock price continued its recent gains; the stock is up 14% from its August low. Earlier, the company launched a new iPad mini equipped with Apple Intelligence artificial intelligence features. Apple also received Evercore ISI's “Tactical Outperform” rating. Melius Research is also optimistic about the stock, saying it has received an “unprecedented buyback” and said growth is accelerating. Analyst Ben Reitzes anticipates “the iPhone will usher in a multi-year cycle.”