- Evercore ISI analyst Amit Daryanani reiterated outperform on AAPL, raised PT to 380 from 365.
- AAPL traded at 344.30, near a 344.57 buy point from a cup base.
- iPhone Duo preorders began today, delivery dates pushed to late January.
- Apple may announce touchscreen MacBook Pro, new iPad Mini on or around Oct 27.
- Apple reports fiscal Q4 results on Nov 2.
- Evercore ISI analyst Amit Daryanani named Apple a top defensive name as AI-related stocks sell off. He reiterated an outperform rating and raised his price target to 380 from 365. Apple shares traded at 344.30, near a 344.57 buy point. The analyst cited resilient demand, gross-margin recovery, and price elasticity as key tests. Other defensive names mentioned include Amphenol, Arista Networks, and Cisco. Apple also saw early support from strong iPhone Duo preorder demand, though supply constraints may limit near-term availability. Upcoming catalysts include a potential Oct 27 product event and fiscal Q4 earnings on Nov 2.
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