A fresh analyst target increase/Outperform stance can drive near-term sentiment and trading flows, especially with AI and Services growth as the narrative, though it is not a company-reported fundamental event.
Evercore ISI Raises Price Target on Apple (AAPL) Amid AI and Services Growth Expectations Sheryar Siddiq Wed, June 3, 2026 at 10:20 AM GMT+2 2 min read AAPL Apple Inc. (NASDAQ: AAPL ) ranks among the best most active stocks to buy according to hedge funds . On May 14, Evercore ISI boosted its price target for Apple Inc.
(NASDAQ:AAPL) to $365 from $330, while keeping an Outperform rating on the tech giant’s shares. The firm recently published its sixth annual Apple primer, which outlines investment themes that are expected to influence the company in the years to come. The firm listed a number of growth drivers, such as ongoing premiums of the iPhone product line with an anticipated foldable launch, a steady shift toward offerings that boost gross margins, possible increases in market share, strong capital returns, and prospects for monetizing AI.
Evercore ISI believes Apple Inc. (NASDAQ:AAPL) may amplify earnings per share and free cash flow at a low to mid-teens rate despite weak iPhone unit growth, thanks to service growth and increased average retail prices from higher-end models. The firm stated that a successful Apple Intelligence rollout might open up new revenue opportunities without forcing Apple Inc.
(NASDAQ:AAPL) to meet the capital expenditure levels of hyperscalers. Apple Inc. (NASDAQ:AAPL) designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and home accessories.
The company develops its own operating systems (iOS and macOS) and provides digital services, including iCloud, Apple Pay, and content streaming via the App Store and Apple TV+. While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock .
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years Disclosure: None. Follow Insider Monkey on Google News .
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