Citi analysts are growing bullish on Apple, pointing to soaring iPhone 17 sales and movement towards the new, improved Siri.
There's no doubt that Apple is having a banner year, and analysts are adjusting their predictions accordingly. Citi has doubled down on its "buy" rating for Apple's stock, raising the target price from $315 to $330.
Apple's stock had a price of $277.18 by market's end on Tuesday. As CNBC notes, a jump to $330 would mean a 19% boost, up considerably from the 13% the analysts had initially quoted.
Citi analysts expect iPhone sales to rise this year, driven by customers ready to upgrade older devices. The iPhone 17 has proved especially popular, with sales fueling a record year.
CNBC's own Jim Cramer, host ofMad Money, has praised the iPhone 17. "We've been saying the iPhone 17 is unbelievable," he said. "As long as Apple makes the best products, people will buy them."
Analysts also see promise in Apple Intelligence, which has faced long delays. Apple is reportedly nearing a deal with Google to integrate its AI technology into an improved Siri.
"We believe the partnership could enable Apple to deliver a more powerful Siri as promised while giving the company time to keep developing its own model," Citi's analysts said.
Apple's Q4 2025 earnings call shed light on how well the company has done this year. The company broke records for the quarter and all-time revenue, including an all-time record for services at $28.8 billion, and a fourth-quarter iPhone revenue record at $49.02 billion.
