Apple Stock Rating Maintained Amid Strong iPhone Demand

Investing.com has reported that Evercore ISI has reiterated its Outperform rating on Apple Inc. (NASDAQ:AAPL) stock, citing strong iPhone demand.

The firm's price target remains at $365.00, with the current stock price sitting at $334.44, a 22.5% increase year-to-date.

Pre-orders for the new iPhone 18 Pro and Pro Max models began on September 12, with the devices officially launching on September 18.

Average delivery times are slightly longer than last year, ranging from 15 to 30 days depending on location. However, demand in China and Japan appears to be consistent with last year's numbers.

In other Apple news, the company has reached a settlement with Elon Musk's xAI and X Corp. in an antitrust lawsuit. Additionally, UBS reiterated its Neutral rating for Apple following the unveiling of the new foldable iPhone Duo.