TD Cowen Boosts Apple Stock Price Target to $400

TD Cowen has raised its price target for Apple stock (NASDAQ:AAPL) to $400, citing factors such as product pricing increases and new chip advancements. The firm maintains a Buy rating on Apple and notes that wafer supply constraints and cost inflation, excluding memory, represent near-term headwinds for the technology company.

Apple has raised prices on iPad and Mac products, with future iPhone price increases also expected. TD Cowen points to a possible iCloud+ plan that includes AI cloud compute as a potential new growth driver for Apple's Services segment.

The firm's revised price target matches the highest analyst estimate for Apple, which currently trades at a P/E ratio of 36.67. In its latest earnings report, Apple reported fiscal third-quarter 2026 revenue of $109.4 billion and earnings per share of $2.02.