Apple (NASDAQ: AAPL) has rallied more than 10% over the past month, and historical data suggests the stock may be heading into one of its most lucrative phases for investors.
According to 45 years of seasonality data from charting platform TrendSpider, October is Apple’s strongest month on record.
To this end, the company has delivered gains in 68% of Octobers, with an average return of 6.2%. By contrast, September has historically been its weakest month, averaging a negative return with just 34% of periods ending higher.
iPhone 17 demand
The seasonal outlook coincides with encouraging signs for Apple’s new iPhone 17 lineup. In this case, Evercore ISI analyst Amit Daryanani cited a survey of nearly 4,000 consumers showing 56% plan to buy the Pro or Pro Max models, often with larger memory options following the removal of lower storage tiers.
This shift is boosting average selling prices, with demand driven by upgraded camera, battery, and display features rather than artificial intelligence.
Not all models are performing equally well with only 9% of respondents expressing interest in the iPhone Air, though Apple’s services business, led by Apple Pay, continues to expand.
Daryanani sees strong demand in China and double-digit sales growth at T-Mobile as support for a durable iPhone cycle.
He reaffirmed an ‘Outperform’ rating and lifted his price target to $290, though Apple shares slipped 0.8% in premarket trading Friday.
AAPL stock price analysis
Meanwhile, the stock closed the latest session at $255, down 0.55%, but remains up more than 10% in the past month.
Looking ahead, Wall Street analysts see limited upside for AAPL. Data from TipRanks shows that across 33 analyst forecasts, Apple holds a ‘Moderate Buy’ rating with an average 12-month target of $251.24, a 1.65% downside from its last close.
Estimates range from a bullish $310 to a bearish $180.
