Copyright Benzinga
Apple Inc (NASDAQ:AAPL) shares are trading higher on Monday after Loop Capital upgraded the technology giant’s stock and substantially increased its price target, signaling confidence in the company’s growth trajectory ahead. AAPL shares are at critical resistance. Stay ahead of the curve here. What Happened: Loop Capital analyst Ananda Baruah elevated Apple from Hold to Buy while raising the price target to $315 from $226, citing anticipated strength of iPhone sales. New data from Counterpoint Research indicates that Apple’s iPhone 17 models outsold iPhone 16 models by 14% in the U.S. and China during the first 10 days following launch, which appears to be driving shares higher on Monday. The Loop Capital analyst believes we are at the beginning of a multi-year iPhone expansion cycle, with expectations for continued demand growth throughout 2027. The upgrade is focused on three key drivers. First, Loop Capital projects Apple could get close to achieving back-to-back record iPhone shipment years, with unit volumes expected to reach 238 million in 2025, growing to 250 million in 2026 and further expanding to 260 million or higher in 2027. Baruah pointed to design innovations as a significant demand driver. Loop Capital believes new iPhone designs, including the Air model and an anticipated foldable version launching in 2026, will attract consumers. Additionally, Apple’s planned 2027 model is expected to be the company’s first purpose-built artificial intelligence phone, which could potentially further boost sales. AAPL Price Action: Apple shares climbed to new all-time highs of $264.37 on Monday. The stock was up 4.22% at $262.93 at the time of publication on Monday, according to Benzinga Pro. Read Next: Tim Cook Praises China’s ‘Jaw Dropping’ Output, Says Country’s Developers ‘Hugely Important’ To Apple Image: Hanohiki/Shutterstock.com
