iPhone 17 Leaks, Tim Cook's Donation, and China's Smartphone Subsidies: Recent Updates in Appleverse

The past week has been quite eventful for Apple Inc. (AAPL). There have been exciting leaks regarding the display upgrade for the anticipated iPhone 17, alongside notable news about CEO Tim Cook's substantial donation to former President Trump's inauguration. Additionally, recent developments regarding China's financial support for local smartphone manufacturers pose potential challenges for Apple in the competitive market. Furthermore, the company has halted sales of its iPhone 14 and iPhone SE models in certain EU countries. However, a positive forecast for Apple's stock adds a touch of optimism amid these events. Let's explore these stories in detail.

iPhone 17 Display Upgrade

Recent leaks have emerged indicating that Apple is planning to make significant improvements to the display technology of the upcoming iPhone 17 series. According to a leaker from China known as Digital Chat Station, supply chain materials suggest that the standard iPhone 17 will feature a higher refresh rate. While the exact spec has not been confirmed, past reports have hinted at the possibility of incorporating a 120Hz ProMotion refresh rate, which has previously been limited to Pro models.

Tim Cook's $1 Million Donation

CEO Tim Cook has reportedly donated $1 million to President-elect Donald Trump's inaugural committee. This contribution positions Cook among other leading technology figures such as Jeff Bezos and Mark Zuckerberg. The donation follows a series of interactions between Cook and Trump during Trump's previous term, including a recent dinner meeting at Mar-a-Lago. Cook perceives the inauguration as a crucial American tradition and aims to contribute towards fostering a sense of unity.

China's Smartphone Subsidies

China has announced its plan to extend consumption subsidies to encompass smartphones and other electronic products, potentially benefitting local companies such as Huawei. This new initiative is part of a national trade-in program, which has so far included home appliances and vehicles, and will now incorporate personal devices including phones, tablets, and smartwatches. This significant development was disclosed during a government briefing on the recent changes.

Apple Halts Sales in the EU

In a notable move, Apple has suspended sales of its iPhone 14, iPhone 14 Plus, and third-generation iPhone SE across numerous European Union nations. This decision was made in response to new EU regulations mandating USB-C ports for smartphones with wired charging capabilities. As a result, the affected iPhone models have disappeared from many countries' listings on Apple’s online store.

Bullish Prediction for Apple Stock

In light of recent events, analyst Dan Ives from Wedbush has projected a promising 26% upside for Apple stock. He envisions what he calls a "golden era of growth" for the company, primarily driven by an AI-enhanced upgrade cycle for the iPhone. Ives believes the integration of artificial intelligence could significantly boost iPhone sales, leading him to raise his price target for Apple shares to $325.

Apple, iPhone, Cook