Apple Inc. (AAPL) traded at $344.70 after reaching an intraday peak of $344.94, setting a new record for the stock. The price gain lifted the company’s market capitalization to approximately $5.01 trillion. Over the previous 12 months, the share price has risen 33.71%.
Evercore ISI raised its price target for Apple to $380, citing stronger‑than‑expected demand for the iPhone 18 Pro and Pro Max models based on a consumer survey that showed increased purchase intentions. In contrast, UBS maintained a Neutral rating, noting muted demand for the iPhone 18 Pro and shorter wait times compared with the prior year’s launch. BofA Securities reiterated a Buy rating, arguing that heightened carrier incentives are offsetting Apple’s higher pricing for the iPhone 18 Pro Max.
A separate Citi survey indicated that AI features are encouraging consumers to upgrade smartphones more frequently, which could benefit Apple, and that the company’s purchase consideration exceeds current ownership levels, suggesting potential market‑share gains.
Meanwhile, more than 1,600 Apple Store employees in Italy walked off the job across 17 locations during the iPhone 18 Pro launch, protesting working conditions. InvestingPro analysis noted that the stock appears overvalued relative to its fair value and placed it among the "Most Overvalued" listings, while also observing that it trades near its 52‑week high.
