Analysts See Upside in Apple Stock Despite Initial Dip

Apple's stock price declined by 0.45% on Friday, but analysts remain optimistic about the company's prospects.

The iPhone 18 Pro and Pro Max models went on sale on September 18, priced $100 higher than their predecessors, which is expected to contribute to revenue growth.

Evercore ISI raised its price target for Apple to $380 from $365 while maintaining an Outperform rating, implying a nearly 13% upside from Thursday's closing price.

Amit Daryanani, the firm's analyst, expects the latest launches to support a stronger-than-expected iPhone refresh cycle, driven by higher prices and increased memory configurations.