The Godolphin trainer believes the classy three-year-old colt has come on for his fourth place in the 32Red Sprint Cup at Haydock four weeks ago.
Appleby hopes that run will have blown away the cobwebs after having been off the track since Royal Ascot, when he was third in the Commonwealth Cup.
The son of Shamardal had made a winning seasonal debut on the same course in the Pavilion Stakes, taking the coveted scalp of Harry Angel.
William Buick returns from eight weeks on the sidelines to take the ride.
Appleby said: "He's in really good form. We've been delighted with him since Haydock.
"That was his first run since Royal Ascot and he'd probably done a bit too well over the summer. We think he's definitely improved from that run going into Saturday.
"Getting back on a bit better ground will definitely help and if he can reproduce any of his previous runs at Ascot it will put him right in the mix.
"He has come forward a good bit, mentally and physically.
"Rather than throw ourselves back in at the deep end again and go straight to Champions Day, we thought we'd go to Ascot and take it from there.
"He looks the one to beat."
Magical Memory bids to bounce back from a poor run in the Haydock feature, when the going was too soft for the Charlie Hills-trained grey, and conditions look like being better in Berkshire.
The five-year-old had travelled north from Lambourn four weeks ago on the back of two wins in slightly lesser company and a fine fourth at the top level behind Brando in the Prix Maurice de Gheest at Deauville.
However, he could not get his act together and trailed in last of 11 runners.
"He's in great nick. Charlie thinks he's been in as good a form as he's been in all season," said Sam Hoskins, racing manager for owners Kennet Valley Thoroughbreds.
"He has to put that Haydock run behind him, but he should run a really good race. Blue Point's a big danger.
"The ground seems to be drying out and might be good to soft as worst. He should run a really good race."
Danzeno tries his luck back in Group-race company for the first time this year after running in four handicaps this season that yielded a valuable success over five furlongs on this course in July.
He was last seen not getting the rub of the green when a never-dangerous seventh in the Stewards' Cup at Goodwood nine weeks ago.
"He's in good order. He's been working very well and he should run a good race," said trainer Mick Appleby.
"The ground should be perfect for him and he likes the track. We're hoping for a good run. Everything should be in his favour."
Karl Burke is hoping the ground does not try out much more for Simmie, who has not run for 119 days.
"We're waiting for the ground, really," said the Leyburn handler.
"It's drying out for her again a little bit, but she should show herself up well."