Analysts upgrade Apple stock to Buy, citing iPhone Ultra and expanding services as key revenue drivers through 2030.
Rothschild Redburn raised its Apple Inc. (NASDAQ:AAPL) price target to $400 from $260 and upgraded the stock to Buy. The firm highlighted two catalysts: Apple’s entry into premium foldables and a strategic shift toward its Apple Intelligence platform.
The upgrade follows projections of 12% annual iPhone sales growth through 2030, outpacing consensus by 3-14%. Analysts expect the iPhone Ultra to lift average selling prices, supported by a 2.55 billion-device installed base. Services, growing three times faster than hardware, remain a key margin driver.
No immediate market reaction was disclosed in the report.