Cordwell Boosts Apple Stock to Buy with $400 Target

Apple Inc.'s stock has gained momentum after analyst James Cordwell upgraded shares to Buy from August 17, 2026, with a $400 target. This represents a 31% upside from Apple's closing price of $305.93 on the same day.

The upgrade is based on two key drivers: iPhone sales growing at a 12% compound annual rate through fiscal 2030 and Apple earning 18% above Street estimates for fiscal 2030. Analysts also see Apple's installed base at 2.55 billion devices.

Apple's stock has been trading with a dense set of market figures, including a current price of $311.61, a 52-week range of $224.69 to $344.57, and a market capitalization of $4.55 trillion. The upgrade thesis also emphasizes the importance of premium pricing and future device cycles for Apple's iPhone business.

The analyst report highlights Apple's strong quarterly performance in fiscal Q3 2026, with revenue reaching $109.42 billion, up 16.36% from fiscal Q3 2025. Services revenue was a record $30.74 billion in the quarter, and iPhone revenue was $54.25 billion.