In response to Apple's latest earnings — and projections for the next quarter's iPhone 17 sales — investment firm Evercore has increased its target price by $10.
This is the third time in just over a month that Evercore has raised its price, and each time it is primarily down to the high demand for the iPhone 17 range. On September 9, 2025, it raised the target from $250 to $260, then on September 26, it took it to $290.
Now in a note to investors seen by AppleInsider, Evercore has raised the price again to $300.
It is once more chiefly because of demand, and it follows Apple's reports of its last quarter earnings. That report did include a slight iPhone revenue miss, yet Evercore believes demand supports Apple's claim of supply constraints.
Specifically, Evercore expects supply versus demand to continue to be a bottleneck for many iPhone models. Its analysts don't directly say when the anticipate this to even out, but Apple expects the situation to improve in the next quarter.
The new target price increase is also because of that expectation of improvement. Evercore believes iPhone sales will increase to double-digit growth in the next quarter.
Other positive aspects
Evercore says that it also notes what Apple said during its earnings call about Apple Intelligence. Tim Cook said that the expected new Apple Intelligence features are on track for a 2026 launch.
Apple did not give any indication of a more precise release schedule. However, Evercore expects the launch to be in the spring of 2026.
The target price increase comes even though Evercore's analysts note how much Trump's "reciprocal" tariffs have cost Apple. Apple reported expecting a hit of $1.4 billion for the next quarter, which brings its 2026 tariff costs up to around $3.3 billion.
