Analysts See Apple Stock Hitting $330, Fueled by iPhone 17 Strength

Evercore ISI has raised its price target for Apple Inc. to $330 per share, a vote of confidence anchored in the sustained demand for the iPhone 17. In a note to clients, the investment firm highlighted stronger-than-expected sales in major markets, including the United States and China, as the core reason for its upgraded outlook.

The move marks another step up for Evercore, which had previously set a $325 target just a month ago. Analysts point to the iPhone 17 Pro models, with their advanced camera systems and longer battery life, as particularly popular with consumers. This preference for higher-end devices is expected to boost Apple's average selling price and profit margins, especially as component costs like memory decline.

A significant part of the optimism stems from Apple's work in artificial intelligence. The company's focus on privacy-centric, on-device AI features is seen as a key differentiator. Evercore analysts anticipate that a major update to Siri, expected in the spring of 2026, will encourage a wave of upgrades from current iPhone users.

The revised target arrives after a period of volatility for Apple's stock, which recently broke a seven-day losing streak following Evercore's announcement. While acknowledging risks like potential U.S. tariffs, the firm maintains an 'Outperform' rating on Apple. It argues the company's supply chain management and pricing power will help navigate those challenges.

Other Wall Street observers share this bullish sentiment. Notably, Wedbush analyst Dan Ives has a $350 price target for Apple, citing 2026 as the year the company fully embraces the AI shift. As Apple prepares for its late-January earnings call, all eyes will be on whether early iPhone 17 demand signals translate into the financial performance these analysts are predicting.

Source: Webpronews