Evercore ISI reiterated its Outperform rating and $365 price target for Apple Inc. (NASDAQ: AAPL) following the company’s Mac mini refresh, citing improved AI capabilities and competitive positioning in the desktop segment.
The new Mac mini lineup introduces Apple’s M6 and M5 Pro chips, replacing the prior M4 and M4 Pro configurations. The base M6 model, priced at $899, delivers a 40% faster CPU, twice the graphics performance, and up to four times the AI processing speed compared with the M4. The M5 Pro variant, starting at $1,699, features an 18-core CPU, 20-core GPU, and up to 64GB of unified memory with 307GB/s bandwidth. Both models support Wi-Fi 7, Bluetooth 6, and enhanced Ethernet, while the M5 Pro includes Thunderbolt 5 connectivity.
Apple’s valuation remains near $4.51 trillion, supported by a 37% total return over the past 12 months and a trailing price-to-earnings ratio of 35.5. Pre-orders for the refreshed Mac mini opened on the announcement day, with general availability set for September 22.
Separately, Walmart (NYSE: WMT) plans to expand Apple Pay acceptance across all U.S. stores by the end of 2026, beginning with Tap to Pay implementations at select Walmart and Sam’s Club locations. The rollout will extend to fuel stations by mid-2027, aligning with broader contactless payment adoption trends.
