Apple Inc. (AAPL) is refreshing its Mac lineup with new high-powered desktops as Wall Street weighs steady iPhone demand, mounting excitement around the upcoming Duo foldable and a valuation already near historic highs.

Apple Launches New Mac Mini And Mac Studio

Apple released a new Mac mini powered by the M6 and M5 Pro chips and a new Mac Studio featuring the M5 Max and M5 Ultra.

The company said the M6 Mac mini delivers up to four times faster AI performance, twice the graphics performance and 40% faster CPU performance. The Mac Studio targets professional workloads, with the M5 Ultra configuration supporting up to 512GB of unified memory.

Both desktops also emphasize on-device AI through Apple Intelligence and Siri AI in macOS 27.

Mac mini with M6 starts at $899, while the M5 Pro model starts at $1,699. Mac Studio starts at $2,499 with M5 Max and $5,499 with M5 Ultra.

Wall Street Watches iPhone Demand And Duo

Morgan Stanley analyst Erik Woodring recently said early demand for the iPhone 18 Pro and Pro Max "seems fine," with delivery lead times broadly unchanged from last year despite about 18% higher production.

Woodring believes some Chinese consumers may be waiting for Apple's Duo foldable, which Apple expects to make available in mid-October. He remains highly optimistic about the product and expects Apple could sell nearly every foldable it produces over the next 12 months.

CNBC's Jim Cramer called Duo "revolutionary," contrasting it with the more incremental iPhone 18 upgrade.

Woodring said Apple trades at a "relatively rich" valuation of about 33 times fiscal 2027 earnings, near its historical peak multiple of roughly 34 to 35 times.

He said further gains may require higher earnings estimates. Woodring also expects Services growth to reaccelerate after falling below 10% in the September quarter, while warning that a deeper slowdown could pressure Apple's valuation.

Apple Stock Rises Near 52-Week High

Apple stock rose about 1% Tuesday, outperforming the broader technology sector as investors favored mega-cap tech. The Nasdaq gained 0.43%, while the S&P 500 slipped 0.04%. Technology rose about 0.2%.

Apple remains in a strong uptrend, trading above its 20-day, 50-day, 100-day and 200-day simple moving averages. Shares are also just below the 52-week high of $344.57, putting the stock in a potential breakout zone.

Momentum remains positive, with MACD above its signal line. Traders may watch $344.50 as resistance and $300.50 as support.

Apple carries a Buy consensus rating with an average price forecast of $335.57. Recent analyst calls include Evercore ISI's $380 price forecast, Bank of America's $370 forecast and TD Cowen's $400 forecast.

Top ETF Exposure

• Direxion Daily Technology Bull 3X ETF (TECL): 9.68% Weight
• Motley Fool 100 Index ETF (TMFC): 9.74% Weight
• VistaShares Target 15 Berkshire Select Income ETF (OMAH): 9.97% Weight

Significance: Because AAPL carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

AAPL Price Action

AAPL Stock Price Activity: Apple shares were up 0.98% at $342.31 at the time of publication on Tuesday. The stock is trading near its 52-week high of $344.56, according to market data.