**Apple Stock Gains Amid Bearish Sentiment; Analysts Optimistic About Upcoming Results**

In a positive development on the stock market, Apple shares climbed 1.7%, closing at 231.30. According to a note from analyst Daryanani, investor sentiment towards Apple has recently turned more bearish, leading to lowered buy-side expectations compared to current consensus estimates. Despite this bearish outlook, Daryanani predicts that Apple will deliver results in line with current estimates, potentially boosting the stock further. Apple is set to release its fiscal fourth-quarter results on October 31.

Concerns among bearish investors have primarily centered around Apple's performance in the Chinese smartphone market, where local brands such as Huawei are gaining traction. However, Daryanani believes these concerns are exaggerated. He suggests that Apple can counterbalance potential market share losses in China with growth in emerging markets and the United States.

Daryanani also highlights the staggered rollout of artificial intelligence (AI) features as a catalyst for a prolonged iPhone upgrade cycle. The introduction of new features across different geographies is expected to drive strong word-of-mouth advertising, bolstering iPhone sales. Additionally, Daryanani points to Apple's wearables and services segments as significant contributors to the company's top and bottom lines.

Apple stock is currently featured on the IBD Tech Leaders list and is nearing a buy point of 237.23, based on a 13-week consolidation pattern noted by IBD MarketSurge charts. The stock holds an IBD Composite Rating of 89 out of 99, indicating strong overall performance.