Apple stock just surged 2%, adding a massive $81 billion to its market value! But what’s driving this rally? Is the iPhone finally making a comeback? :mobile_phone::chart_increasing: Apple’s latest forecast suggests iPhone demand is rebounding despite tough competition and a slow AI rollout.

Apple shares rose 2% on Friday after a rosy forecast fuelled hopes of an iPhone sales rebound, even as a lack of AI features weigh on demand.

Apple's iPhone sales in China reportedly took a tumble at the end of 2024, with a considerable reduction in sales putting it in a dead heat with homegrown Xiaomi.

Apple shares rose 2% on Friday after a rosy forecast fuelled hopes of an iPhone sales rebound, even as tough competition and a lack of AI features weigh on demand in key market China.

Wall Street is mainly focused on Apple's iPhone sales in China and any guidance related to its March quarter, which could include iPhone SE4 sales.

Apple ( NASDAQ:AAPL) is feeling the heat in China. iPhone sales slid 18.2% in Q4 2024, dropping its market share to 17.1%, down from 20.2% a year ago. Meanwhile, Huawei is back on top for the first time since U.S. sanctions hit in 2019, grabbing an 18.1% share.