Evercore raises AAPL price target to $380 on new iPhone demand
Evercore has raised its price target for Apple stock to $380, citing stronger-than-expected consumer demand for the new iPhone 18 Pro lineup and Apple Watch Series 12. The investment firm's consumer survey indicates that upgrade intent is higher than previous predictions, particularly for high-end models with larger storage capacities. While the new foldable iPhone Duo shows initial interest, analysts note that its full market potential may not be realized until after its official launch in October 2026.
- ▪Evercore increased its Apple price target by $15 to $380 following a consumer survey showing higher upgrade demand for the iPhone 18 Pro range.
- ▪32% of surveyed consumers plan to purchase the iPhone 18 Pro Max, an increase from the 29% who intended to buy the previous generation model.
- ▪67% of respondents cited the aging of their current devices as the primary driver for upgrading, compared to 48% in 2025.
- ▪Interest in the new Apple Watch Series 12 and Ultra 4 stands at 38%, up from 34% in the previous year.
- ▪Pre-orders for the new foldable iPhone Duo are scheduled to begin on October 16, 2026, with current survey data showing 14% purchase intent.
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| Canonical URL | https://appleinsider.com/articles/26/09/18/evercore-raises-aapl-price-target-to-380-on-new-iphone-demand?utm_source=rss |
| Publication time | Fri, 18 Sep 2026 13:41:09 +0000 |
| Retrieval time | 2026-09-18T13:43:45.870Z |
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News Evercore raises AAPL price target to $380 on new iPhone demand William Gallagher 0 e-mail BlueSky Mastodon X Facebook Reddit Fri Sep 18 2026, 09:41 AM EDT · 2 minute read Apple's new iPhone 18 Pro range is now in stores. Investment firm Evercore believes that upgrade demand for the iPhone 18 Pro range and new Apple Watch Series 12 is higher than predicted, prompting a target rise of $15. Back in May 2026, Evercore raised its price by $35 to $365, arguing that investors were ignoring Apple's long term prospects. Now it's raised the price again, but this time because of what appear to be short term issues. Specifically, the company reports that its survey of consumers suggests that the new iPhone range will prompt more upgrades than expected.
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