Analysts at investment firm Evercore believe that Apple Intelligence will be a long-term boon for the company, prompting it to raise its target by $35 to $365.

Evercore isn't the first firm to bet on Apple Intelligence's future, as Wedbush recently raised its target price to a record $400 on the same expectation. Plus Evercore has remained steadily bullish on Apple, with this latest rise being its fifth since September 2025.

Now in a note to investors seen by AppleInsider, Evercore has analysed every aspect of Apple and its potential in more than 100 pages. It's the sixth year that Evercore has done this deep dive, and the headline for 2026 is that investors should be looking longer term on Apple.

Specifically, it concludes that investors are tending to over-concentrate on short term issues such as the ongoing delays to Apple Intelligence, and the current memory and processor shortages. Instead, Evercore thinks the key issue is Apple's ecosystem.

The analysts maintain that Apple's ecosystem is unrivalled, and is key to how it can sustain mid to even high single digit revenue growth. That growth, it says, will be through:

  • Gross margins on Apple's mix of Services
  • Apple's supply chain control
  • Increasingly premium iPhone models
  • Monetizing AI

That increase in premium iPhone models includes the expected iPhone Fold, which Evercore believes will greatly increase Apple's average selling price. Then the business of monetizing AI includes previous expectation that Apple could eventually charge for certain Apple Intelligence features.

But it also includes the more recent suggestion that Apple may benefit from App Store subscriptions from apps using Apple Intelligence.

Evercore again notes that Apple Intelligence has been delayed, but sees that a successful launch of it later in 2026 is possible. Its analysts also believe that Apple can succeed with Apple Intelligence without having to match the extreme capital expenditure that its rivals have pursued.

Apple is expected to unveil its improved Siri and Apple Intelligence features at WWDC 2026.