Evercore ISI Sticks to Positive View on Apple Despite Foldable Device Price Tag

Evercore ISI has reiterated an Outperform rating and $365 price target on Apple Inc. (NASDAQ:AAPL) after the company's product launch event, where it introduced new iPhone models and a foldable device.

The firm said the new form factor should drive consumer interest and is priced in line with premium foldable competitors.

Apple raised pricing by $100 on the 256GB iPhone 18 Pro and Pro Max to $1,199 and $1,299, respectively, with steeper price increases at higher storage tiers.

The new Apple Watch Series 12 and Ultra 4 include upgraded health sensors with a 60-fold increase in heart rate data frequency and an overhauled Health app.