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Apple (AAPL) finally launched its artificial intelligence (AI)-enabled iPhone 16 earlier this week. AAPL stock closed lower on Monday as the company unveiled the widely-awaited product, which was not necessarily surprising, as AAPL has historically underperformed markets on the day it launches new iPhones
That does not necessarily mean that the products aren't good; it's more so that the announcements are largely baked into prices in advance, and usually Apple does not have incrementally positive announcements to make on the launch day. In this article, we’ll look at Apple’s Q4 forecast, and analyze whether the iPhone 16 could take AAPL stock to new highs.
