The Apple stock price target got a notable bump on May 1, 2026, with Jefferies lifting it from $294.91 to $299.88 while also keeping the Hold rating in place. This came right after Apple posted its Q2 2026 results, which were, honestly, stronger than most of Wall Street had penciled in. Revenue hit $111.18 billion, earnings per share came in at $2.01, and the company also announced a $100 billion stock buyback on top of a 4% dividend increase. At the time of writing, AAPL trades around $280, and the AAPL stock forecast across the Street also shifted higher, with Morgan Stanley, Goldman Sachs, and TD Cowen all raising their own Apple stock price target numbers after the print. The Apple stock analysis for 2026 also gets a boost from revenue guidance for the June quarter that Jefferies puts at roughly 5% above consensus.
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Apple Stock Price Target and AAPL Forecast Outlook 2026
Why Jefferies Kept the Hold Despite Raising the Apple Stock Price Target
Jefferies’ revised Apple stock price target sits at the cautious end of a very wide range right now. The firm sees demand holding up into the June quarter, but also points out that peak demand has most likely passed. A lot of consumers who wanted to get ahead of potential iPhone price hikes already bought, and iPhone volume in China also turned negative in recent weeks. That China slowdown is a real concern and also a big part of why Jefferies stuck with Hold. InvestingPro data also puts the shares above fair value at current levels, and 12 analysts on the Street right now also carry Hold ratings, so the Apple stock overvaluation debate is very much alive.
What Tim Cook Said About iPhone Demand and Supply
On the Q2 2026 earnings call, Morgan Stanley’s Erik Woodring asked Tim Cook to walk through the supply situation Apple faced during March. Cook had this to say:
“We were constrained during March. This was primarily on iPhone and, to a lesser extent, on Mac. And as we talked about in the last call, the constraints were primarily driven by the availability of the advanced nodes our SoCs are produced on.”
Cook also addressed iPhone 17 performance across markets, and the detail matters a lot for the Apple stock analysis and for reading any Apple stock price target on the Street right now:
“It is the iPhone 17 family that is driving it, despite the supply constraints we are experiencing. Customers love the design, performance, durability, the camera, Center Stage, and that Apple Intelligence is integrated across the platform. From where we are seeing the growth, it is amazing. We are seeing double-digit growth in the majority of the markets we track, from the US to Latin America to Greater China to Western Europe to India to Japan to Southeast Asia. We set a new March record for upgraders as well.”
How the Broader AAPL Stock Forecast Looks After Q2
Morgan Stanley’s Erik Woodring also moved his Apple stock price target from $315 to $330 and kept an Overweight rating. His note stated:
“Results demonstrated strong iPhone, Mac, and Services momentum, along with AAPL’s ability to effectively manage cost inflation, both of which have been investor concerns. Revs and profit strength are persisting, including a remarkable June quarter margin guide, leaving us more confident in AAPL’s ability to mitigate record cost inflation. A thematic Megacap winner (FCF +53% in FY26) in a product cycle with upside optionality at WWDC and Foldables on deck.”
Wedbush’s Dan Ives holds the Street-high $350 AAPL stock forecast and also laid out his bull thesis:
“2026 is going to finally be the year that Apple actually enters the AI Revolution. The elephant in the room remains the invisible AI strategy, with the biggest consumer installed base in the world of 2.4 billion iOS devices and 1.5 billion iPhones, the time is now for Apple to accelerate its AI efforts.”
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The Apple stock bullish camp right now, led by Wedbush at $350 and Goldman at $340, also points to WWDC in June and a foldable iPhone this fall as the two next big catalysts. The Apple stock bullish thesis also leans heavily on Services growth and the AI roadmap. Jefferies, with its $299.88 Apple stock price target, sits at the more conservative end, though the consensus average also lands around $302 to $304. Where AAPL actually goes from here also depends on how Apple’s AI integration story turns into real revenue, and whether the overvaluation concern fades or gets louder heading into the iPhone 18 cycle.