Apple Stock Holds Near Highs Amid iPhone 18 Launch Debate

Apple's stock price has been holding steady near its highs as analysts debate the impact of the upcoming iPhone 18 launch. The company's stock closed at $319.97 on September 4, 2026, a 2.51% decline from the previous day.

The current consensus among analysts is that Apple's stock will reach $330.61 per share, implying a potential upside of around 3.3%. However, KeyBanc has taken a more cautious stance, maintaining an Underweight rating and a price target of $250, citing concerns about the iPhone 18 launch being a negative catalyst for shares.

KeyBanc expects the iPhone 18 Pro to be priced at around $1,249, up from the previous generation, while the Pro Max could reach $1,399. The bank also predicts that combined shipments of the iPhone 18 series in Apple's fiscal fourth quarter and first quarter will total around 80 million units, down from 91 million units in the same period last year.

The expected price hikes for the iPhone 18 may support revenue and margins, but could also dampen unit demand if consumers are deterred by the higher prices. This scenario is a key risk factor for Apple's stock performance in the coming months.