Apple (AAPL) stock has eclipsed its previous all-time high this week, crossing the $317 mark for the first time. In the past month, shares are up 7%, with the iPhone developer finally delving into its AI capabilities. After its keynote earlier this summer, a promise to hike prices and several economic factors worried AAPL investors, but the stock has since shown resilience. Now, Wall Street is upping its price targets again for Apple’s stock, suggesting a further ATH to come.
Apple is scheduled to announce its next quarterly earnings on July 30th. The company reported its most recent earnings on Apr 30 for Q2 2026. Apple posted an earnings per share (EPS) of $2.01. This exceeded analysts’ $1.94 estimate by 3.61%, signaling continued growth despite mounting pressure on markets. For July 30, analysts are projecting an EPS of $1.89, which is lower than the previous quarter, but is a target that can once again be beaten.
On Monday, analysts at Citi rated AAPL stock with that possibility in mind, maintaining its Buy rating. The firm highlights Apple’s ability to gain market share even as broader smartphone and PC markets face headwinds. According to Citi, Apple “continues to outperform the broader smartphone market through share gains, design-driven demand, and strong positioning in the mid-range price segment via promotions and subsidies.” In addition to the reiterated buy rating, Citi upgraded its AAPL forecast to $365 from $315.
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With Citi and other firms bullish, the path is looking brighter for Apple (AAPL) compared to last year. While the tech giant was late to the AI race, Apple and its stock are riding big momentum. Furthermore, according to a new Counterpoint Research report, Apple grew iPhone shipments by 3% year over year and captured a record 20% share of global smartphone shipments despite an industry-wide downturn. The resilience of the iPhone maker is one of the strongest bull cases among investors on the street, hence the overall buy rating across firms. There does seem to be a clear view that Apple’s financials are headed in the right direction, with expectations of a 17% increase in net income during the current fiscal year.