Despite the ongoing leadership turmoil and AI uncertainty, Citi’s analysts raised the price target on Apple’s stock from $315 to $350. Here’s why.
iPhone sales performance and AI outlook poised to push stock up
As reported by CNBC, Citi’s analysts maintained the “buy” rating for Apple’s stock, and lifted the price target to $350, up from $315.
Based on today’s close at $277.18, a $350 price target would mean a 26.3% boost. Citi’s analysts predict this will happen as a result of increased iPhone sales, “as many customers are due for upgrades after years with the same devices,” per CNBC’s report.
The price target hike comes on the heels of a recent IDC report that increased the iPhone’s shipping forecast for 2025 to 6.1%, up from their previous forecast of 3.9%.
It also comes after Apple’s last quarterly results, where CEO Tim Cook was very optimistic about the initial data regarding iPhone 17 sales. IDC and Counterpoint Research have also released recent reports reiterating this success.
Citi also cited the prospect that Apple’s deal with Google will finally deliver some of the AI features announced during last year’s WWDC, which have yet to materialize.
According to CNBC, Citi’s analysts said:
We believe the partnership could enable Apple to deliver a more powerful Siri as promised while giving the company time to keep developing its own model.
Over the past few months, Apple’s stock has been recovering from an otherwise unfavorable 2025, marked by a sharp decline during Trump’s trade wars in early April and the uncertainty that followed.
From August onward, Apple’s expanded $600 billion U.S. commitment appeared to ease pressure from Washington, and helped lift investor confidence. Since then, Apple’s stock has gained roughly 30%, reaching a 13.7% gain year-to-date.
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