An analyst who had spent more than six years on the sidelines on Apple Inc.’s stock just changed his tune, joining the bull camp in a note titled “Buy

Shares in Apple Inc were up 3% on Monday after a well-known analyst at Bernstein Societe Generale Group upgraded the stock to an "outperform" rating, pointing to the prospects for phone replacement phone sales with help from generative artificial intelligence updates.

Bernstein’s Toni Sacconaghi raised Apple shares to Outperform from Market Perform, and kept a $195 target price.

Apple (AAPL) shares moved firmly higher in early Monday trading after a key Wall Street analyst lifted his price target on the stock ahead of its highly anticipated March quarter earnings later in the week.

Apple's latest quarterly report on Thursday will be an opportunity for many here to take a reading of the Big Tech firms.