Goldman Raises Apple PT to $370 on AI-Driven iPhone Upgrade Cycle
asymco · x · 2026-07-30
Goldman Sachs reiterated a Buy rating on Apple and raised its price target from $330 to $370 ahead of Q3 earnings.
The analyst expects better-than-expected Q3 revenue of $110.1 billion (17% growth), driven by the iPhone replacement cycle and AI efforts (Apple Intelligence). iPhone revenue is projected to grow 23% to $54.8 billion. Furthermore, progress in Apple Intelligence post-WWDC has addressed AI disruption concerns, while recent price hikes for Mac and iPad are expected to support earnings growth.
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