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Analysts are largely bullish Apple (AAPL) could see an AI-fueled upgrade cycle after the tech giant revealed the AI-charged iPhone 16 on Monday, though some warned a slow rollout of new AI features could hold back sales in the near term.

Most Apple analysts tracked by Visible Alpha hold a "buy" or equivalent rating for the stock after Apple unveiled its latest iPhone with AI-powered capabilities, along with new versions of its smartwatch and AirPods.

A number of analysts including those from JPMorgan, Jefferies, and Wedbush said Monday and Tuesday that they anticipate an AI-driven upgrade cycle following Monday's launch event. However, the lack of a "specific timeline" for the rollout of many AI features leaves some uncertainty around Apple's AI plans, JPMorgan analysts said, which could delay sales.

Jefferies analysts said the vague timeline for AI feature releases could turn the coming upgrade cycle into a multi-year cycle that includes releases of the iPhone 17 and beyond once more useful features are broadly available, rather than massive upgrades to the iPhone 16.

JPMorgan and Morgan Stanley analysts also said other improvements important to consumers like camera and battery life could drive upgrades, along with "attractive" trade-in offers from Apple and cellular carriers.

Several analysts said their focus has now shifted to pre-order data this Friday and early sales data following the Sept. 20 launch to provide insight into how consumers view the new phones.

Bank of America analysts added that health features of the new smartwatch and AirPods could broaden markets for the products, “driving more users” to Apple's ecosystem. The Apple Watch Series 10 and AirPods Pro 2 both have features pending Food and Drug Administration (FDA) approval, with the watch offering a new sleep apnea detection program and the AirPods able to function as a hearing aid.

Given the connection Apple looks to foster between its products, Needham analysts said sales of the wearable products driven by the health updates could help boost future sales of iPhones once more definitive AI capabilities are added.

Apple shares were little changed at $220.49 in intraday trading Tuesday, and have gained over 14% since the start of the year.

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A man has revealed the surprising reason he’s considering breaking up with his girlfriend.

The man wanted to break up with his girlfriend because she was squatting on a moving tricycle, probably because of the hike in fuel.

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The best time to buy a home is rapidly approaching, according to a report released Tuesday.

Realtor.com found that the week of Sept. 29 through Oct. 5 is the optimal time to buy a home this year. The real estate website said home shoppers could save more than $14,000 during that week and that the following two weeks would be nearly as good for buyers. Researchers said a slower market pace, more listings, and less competition will give buyers the advantage.

For about two years, high interest rates have gridlocked the housing market. Many homeowners have been reluctant to sell their homes and give up low mortgage rates, decreasing inventory and pushing prices to unaffordable levels.

Potential homebuyers may be able to get off the sidelines at the end of September and into early October, Realtor.com said. Based on historical trends, the first week of October will likely see 37% more active listings than the beginning of the year.

Combined with the continuing drops in mortgage rates, the best week of the year could kick off a trend of better affordability for buyers.

According to calculations by Freddie Mac, the average interest on a 30-year, fixed-rate mortgage has been moving downward since May and has decreased for the past three weeks in a row.

As mortgage rates have fallen, more homeowners are willing to list their homes, and for-sale inventory has climbed over the past year. According to Realtor.com, there were 35.8% more homes for sale in August than at the same time last year.

Previously, home buyers fought for the few homes on the market, driving home prices up by more than 36% since July 2019. However, prices have been easing; the median price of homes for sale in August decreased by 1.3% compared with last year.

These trends are likely to continue. As the Federal Reserve eyes a cut to its influential fed funds rate, many economists expect that new-mortgage and refinance rates will follow suit and decrease even more.

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When we think about radiation therapy, we typically picture treatments directed at tumors by a machine located outside the body. Now imagine a different scenario — one in which radioactive particles injected into the bloodstream find and destroy individual cancer cells, while leaving healthy cells unscathed.

The drug

One such "radioligand" is already available for certain patients with prostate cancer. Called Lu-PSMA-617 (trade name Pluvicto), it carries a lethal payload of radioactive atoms. The drug binds with a cell protein known as prostate-specific membrane antigen (PSMA), which is abundant on most prostate cancer cells but absent on most normal cells. After sticking to that protein, Lu-PSMA-617 delivers its radioactive cargo, and then the targeted cell dies.

As it currently stands, Lu-PSMA-617 is approved only for very a specific circumstance: eligible patients must have been treated already with chemotherapy for metastatic castration-resistant prostate cancer (mCRPC). During this advanced stage of the disease, prostate-specific antigen (PSA) levels rise despite treatments that block testosterone, a hormone that fuels prostate cancer growth (rising PSA indicates the cancer is progressing).

Doctors will often respond by switching to second-line hormonal treatments that block testosterone in other ways. If those drugs don't work or become ineffective, then chemotherapy is typically the next option.

But could men with mCRPC bypass chemotherapy — along with its challenging side effects — and start on Lu-PSMA-617 right away? Investigators evaluated that potential strategy during a newly-completed clinical trial.

The study

The PSMAfore phase 3 trial enrolled 468 men with mCRPC. All the men had PSMA-positive tumors, and each of them had been treated already with a second-line testosterone blocker. For most men, that drug was abiraterone; the rest had been treated with a drug called enzalutamide. None of the men had yet been given chemotherapy.

The investigators randomized all the enrolled men into two groups. Men in the treatment group were given infusions of Lu-PSMA-617, while men in the control group were switched to a second testosterone-blocker that they hadn't yet received.

The findings

After nearly a year and a half of follow-up, Lu-PSMA-617 treatment generated promising results. Crucially, the treated men avoided further cancer progression for a year on average, which was six months longer than progression was avoided in the control group.

Lu-PSMA-617 also produced significant drops in PSA: in 58% of the Lu-PSMA-617-treated men, PSA levels declined by half or more. Just 20% of men in the control group experienced comparable PSA declines. Lu-PSMA-617 was also well tolerated. The most common side effects were dry mouth and minor gastrointestinal symptoms, and treated men also reported less pain and better quality of life.

Commentary

Researchers still need to show that using Lu-PSMA-617 before chemotherapy actually lengthens survival before the FDA will approve this new indication. The enrolled subjects are still being followed, and "hopefully with further follow up, this sequence of treatments may become more widely available," says Dr. Marc B. Garnick, the Gorman Brothers Professor of Medicine at Harvard Medical School and Beth Israel Deaconess Medical Center.

Added Dr. Garnick, "This study marks another advance in our emerging treatment options for men with advanced prostate cancer, and underscores the methodical progression of pharmaceutical development. When new therapies are introduced, they are studied in patients in whom the treatment options are limited. Fortunately, Lu-PSMA-617 showed excellent results in this population, and the study outlined here suggests that it may be able to move this therapy to even earlier forms of advanced prostate cancer. We anxiously await longer-term follow-up of this important research."

Source: Harvard Health Publishing

Retail investors and hedge funds were net buyers of equities last week as major U.S. indexes fell, according to new research. 

Stocks dropped last week, with the benchmark S&P 500 turning in its worst weekly performance in more than a year. Tech stocks, including several high-profile chip shares, were hit particularly hard.

Still, investors largely bought the dip, according to a report released Tuesday by Bank of America that analyzed the moves of its retail and hedge-fund clients. Clients bought individual stocks, pushing them to their highest inflows in nine weeks, and sold exchange-traded funds (ETFs) for a second week.  

The buying was broad-based, with inflows for eight of the S&P 500's 11 sectors; real estate, industrials, and materials were the exceptions. Tech saw its largest inflows since June. 

Stocks are off to a better start this week, with the major indexes rising Monday and making muted moves early Tuesday. Investors this week are largely tuned into the next CPI report, due tomorrow; tonight's presidential debate; and next week's Federal Reserve meeting, which could bring an interest-rate cut.

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