Citi raised its price target for Apple (AAPL) to $365 from $315. The firm issued the update on July 13, 2026. Citi maintained a "Buy" rating on the stock. Apple's earnings report is scheduled for July 30. Analyst Asiya Merchant expressed confidence in Apple's ability to gain market share. This comes despite a general slowdown in the devices market.
Citi's optimism stems from Apple's strong brand loyalty. The company implements selective price increases. These increases protect profit margins from rising component costs. Citi identifies the upcoming iPhone launch in September as a key catalyst. The firm believes enhanced AI capabilities in Siri will support long-term growth. This growth is expected in Apple's high-margin services division.