Apple Stocks Rose 20 Percent in 2026; What is Needed for the 350 Dollar Target?

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.