Evercore raises AAPL price target to $380 on new iPhone demand
AI-summarised brief · reviewed before publication
Evercore lifted Apple’s price target to $380, citing stronger-than‑expected upgrade demand for the iPhone 18 Pro series and the Apple Watch Series 12. The firm’s survey shows 32% of respondents plan to buy the iPhone 18 Pro Max, up from 29% for the previous model, and 67% cite aging devices as the main upgrade driver. Higher‑storage models remain popular, boosting Apple’s premium pricing. The firm also notes modest interest in the new foldable iPhone Duo, with 14% expecting to purchase it.
💡 Why It Matters
- · The uptick signals renewed confidence in Apple’s short‑term sales momentum, potentially easing concerns over sluggish pre‑orders.
- · It underscores the company’s ability to generate premium revenue from feature‑rich upgrades.