why is apple stock up today

Apple's stock is up today, closing at $232.56 with a gain of 0.90% (+2.07 points). The rise is supported by several positive factors: a substantial share buyback program, optimistic analyst revisions citing strong revenue growth prospects driven by the upcoming iPhone 17 upgrades and AI integration, as well as expanding services like Apple TV+ and Apple Music. Additionally, Apple secured a strategic chip supply pact with TSMC to mitigate risks from U.S. tariffs, which strengthens its production capabilities. Bank of America and Evercore ISI analysts have provided favorable ratings and raised price targets, contributing to investor confidence ahead of the company's September product event. While there is cautious sentiment regarding the near-term iPhone launch, overall momentum remains positive due to these strategic initiatives and financial strengths.