Apple stock jumped Monday after a Wall Street firm touted the iPhone maker ahead of its quarterly earnings report.
Analysts said Apple's stock may be able to advance higher on a late October earnings report that merely matches Wall Street estimates, so investors should be positioned accordingly.
However, we do agree with Evercore's optimism on AI iPhone integration, and its ability to usher in an upgrade cycle for Apple's flagship device.
But with our "own it, don't trade it" view still intact on Apple stock, it's acceptable for the upgrade cycle to get off to a slower start.
"I'm for the elongated [upgrade] cycle," Jim Cramer said on Monday.
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