Apple Stocks Rose 20 Percent in 2026; What is Needed for the 350 Dollar Target?
Key Points
- 1. Apple stocks gained 4 percent in value on Wednesday, trading at 327 dollars, and its market value approached 5 trillion dollars.
- 2. Citi raised Apple's target price to 365 dollars, citing strong market share and services revenue.
- 3. Wall Street's average stock target is at the 317 dollar level, raising question marks for the 350 dollar target.
- 4. The third-quarter balance sheet to be announced by the company on 30 July and the iPhone 18 launch in September will be determining for the price.
By the Numbers
Apple stocks (AAPL) reached a new record level of 327 dollars on Wednesday with a 4 percent jump. With this rise, the company's stocks gained 20 percent in value since the beginning of the year, and its market value approached approximately 5 trillion dollars. This strong performance of Apple led the Dow Jones index's rise in mid-July.
The biggest catalyst for this recent rise in stocks was Citi raising Apple's target price from 315 dollars to 365 dollars. Citi analyst Asiya Merchant cited Apple's smartphone market share reaching a record level of 25 percent and its services revenue reaching an all-time high of 30.98 billion dollars. The company's ability to maintain its pricing power despite the increase in chip costs also supports analysts' positive views.
Despite this, some obstacles need to be overcome for Apple to surpass the 350 dollar psychological level. The average target price of Wall Street analysts is at the 317 dollar level, which remains below the current price. For the stock to rise further, the sales momentum of the iPhone 17 needs to continue, services revenue growth needs to maintain double digits, and a positive balance sheet period needs to be experienced for the company.
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Frequently Asked Questions
- Q: Why are Apple stocks on the rise right now?
- A: Apple's smartphone market share being at a record level, strong services revenue, and Citi raising the target price for the stock to 365 dollars are among the main reasons for the rise.
- Q: Why does it seem difficult for the stocks to exceed the 350 dollar level?
- A: Because the average target price of Wall Street analysts is currently at the 317 dollar level, which is even below the currently trading price.
- Q: What will be Apple's next important milestone?
- A: The third-quarter balance sheet to be announced by the company on 30 July and the new iPhone 18 launch expected to take place in September will be determining for the future of the stock price.
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