Evercore Sees Strong Demand for Apple's Latest iPhone Lineup

Apple's latest iPhone lineup has been met with strong consumer demand, according to a survey conducted by Evercore ISI. The firm raised its price target on Apple stock to $380 from $365 while maintaining an 'Outperform' rating.

The survey of nearly 4,000 consumers points to a strong iPhone refresh cycle and potential for higher pricing. Evercore sees room for iPhone unit sales to perform well during the latest refresh and highlighted pricing as another potential source of upside.

Pricing could rise by more than 20% in some areas of the lineup, according to Evercore's analysis. Apple shares have remained resilient through the launch period, despite concerns about higher prices and questions around demand for the new models.