Rothschild Pumps Apple Price Target to $400 Amid iPhone Ultra Optimism
Rothschild & Co Redburn has increased its price target for Apple stock to $400, a significant jump from its previous target of $260. The company attributes this increase to its expectation that Apple's iPhone Ultra will be a successful product, particularly in the foldable phone market.
The iPhone Ultra is expected to start at a price of $2,325, which is over $1,000 more than the current starting price of the iPhone 17 Pro Max. However, Rothschild & Co Redburn believes that Apple's entry into this premium product category will accelerate growth and size in the market.
The company predicts that Apple will sell 14 million iPhone Ultra units across fiscal year 2027, with only 4 million sales coming at the expense of other models. This suggests that the iPhone Ultra will not cannibalize significant sales from other products in Apple's lineup.