Apple Reaffirms Outperform Rating on Stock Amid New Product Launch

Apple Inc.'s latest product launch event has garnered attention from analysts, with Evercore ISI reaffirming its Outperform rating on the company's stock. The firm reiterated a price target of $365.00, suggesting modest upside from Apple's current market cap of over $4.6 trillion.

The iPhone 18 Pro and Pro Max models have seen a price increase by $100 for their 256GB variants, now priced at $1,199 and $1,299 respectively. The new foldable device, iPhone Duo, comes with a starting price of $1,999, in line with premium competitors.

Evercore ISI believes the iPhone Duo's unique form factor will drive consumer interest and support continued iPhone momentum. The company also showcased its next-generation Apple Intelligence and Siri AI experience, featuring improved personal context and onscreen awareness across over 300,000 apps.