AAPL futures saw a slight uptick with news of Apple’s expansion into India’s retail market, expected to boost international revenue. Earlier this week, Jefferies published a note saying that the initial demand for the iPhone 17, just a month after its debut, appeared stronger than last year's iPhone 16 launch, but it is already fading . The investment bank anticipates a moderation in iPhone demand, considering the recent pull-forward from consumers. Consumers had purchased devices ahead of the expected tariff-led price increases and to take advantage of the smartphone subsidies in China. The firm anticipates that these shifting buying patterns and the uncertain macroeconomic environment will impact the sales of the upcoming iPhone 17 series. AAPL futures gained traction after reports of increased Mac shipments, with traders leaning toward bullish call positioning. The futures market is factoring in a $5 move into the next earnings cycle.
