Apple Stock Target Raised Following Strong iPhone Sales

Citi's analysts have raised the price target on Apple's stock from $315 to $350, maintaining a buy rating. The increase comes amid strong iPhone sales performance, with many customers expected to upgrade after using the same devices for years.

According to CNBC, this new price target represents a potential 26.3% increase based on Apple's closing price of $277.18. The analysts attribute the price target hike to improved iPhone shipping forecasts, which have been raised from 3.9% to 6.1% for 2025, as reported by IDC.

Apple CEO Tim Cook expressed optimism regarding initial data for iPhone 17 sales. Additionally, analysts believe that Apple's partnership with Google could enhance Siri's capabilities, aligning with AI features promised during last year's WWDC.

Following a challenging 2025, marked by a decline during trade wars and subsequent uncertainty, Apple's stock has rebounded, gaining approximately 30% since August, and showing a year-to-date increase of 13.7%.

This renewed investor confidence can be partly attributed to Apple's $600 billion U.S. commitment, which has seemed to ease pressures from Washington.