In the past year, Apple’s stock has risen by 12.56%, amounting to an increase of $28.42. While this is a solid performance, it’s not particularly exceptional for the Cupertino giant, partly weighed down by the shortcomings of its Apple Intelligence initiative, which is still considered too limited to attract significant numbers of iPhone users.
However, one analyst believes that Apple has skillfully shifted focus away from its AI weaknesses and brought the spotlight back to the iPhone.
Back to Basics: An “Excellent Phone Manufacturer”
Alex Kantrowitz, founder of Big Technology, explained on CNBC that Apple has successfully “changed the narrative.” According to him, the company is returning to what it does best: designing attractive smartphones.
The analyst highlights the positive reception of the iPhone 17 and the new iPhone Air, praised for their durability and improved battery life: “People want these models because they are more robust and offer better battery life… We are talking about the product itself again, and consumers are responding. They are lining up to buy, both in New York and China, which is crucial.”
A Stock that Divides Investors
While some analysts welcome this renewed focus on the iPhone, others remain cautious. The Macquarie Core Equity Fund reduced its exposure to Apple by 50% in Q2 2025, citing that the company “is no longer growing at historical rates” due to the saturation of its flagship products.
Another signal comes from UBS, which states that the iPhone upgrade cycle now stretches to 35 months in the United States, lengthening the wait between purchases and limiting growth.
Close to a Record Despite Everything
Despite these reservations, Apple remains in a strong position: its stock is only 2.14% away from its all-time high (down $5.47). And even though AI is struggling, the demand for its latest models shows that the core of Apple’s business continues to thrive.
In short, while the tech giant has yet to carve a niche in AI, as long as the iPhone continues to attract customers in both the West and China, Wall Street is willing to wait.
