Evercore Boosts Apple Price Target to $380 on Strong Premium Demand

Evercore ISI has raised its price target for Apple (AAPL) stock to $380, citing strong demand for premium devices in its latest consumer survey. The new target represents a roughly 13% increase from Apple's current trading price of around $337.

The survey of nearly 4,000 consumers showed particularly high interest in Apple's premium iPhone models, with 53% of respondents planning to buy an iPhone 18 Pro or Pro Max. This is above the historical average of 51%, and marks a significant increase from last year's 32% interest in the Pro Max alone.

Evercore also noted healthy demand for other Apple products, including the Apple Watch and AirPods. The company sees this as a positive sign for Apple's ecosystem economics, which could support its strong revenue per device.

However, investors are advised to keep valuation in focus, given Apple's already-high stock price near record territory. A key test will be whether robust upgrade intentions convert into actual shipments and earnings growth that justifies Evercore's $380 target.