Apple

AAPL · NASDAQ

$339.26−$3.68 (−1.07%)TodayMarket open · Oct 20, 3:15 PM ET · Delayed 15 min

Prev close $342.94

AAPL analyst rating

BuyConsensus of 32 analysts over the last 12 months. 66% rate it a buy.

Strong buy1
Buy20
Hold8
Underperform3
Sell0

12-month price target · 43 analysts

Average $331.39 (−2.3% downside)

Low: $217.15
Now: $339.26
High: $425.25

Upgrades and downgrades

The latest rating actions, newest first

AAPL analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Loop Capital	Oct 20, 2026	Downgrade	Buy → Hold	$370.00 → $330.00	63%
JP Morgan	Oct 12, 2026	Maintains	Overweight	$340.00 → $360.00	70%
Morgan Stanley	Oct 1, 2026	Maintains	Overweight	$360.00 → $355.00	63%
Needham	Oct 1, 2026	Maintains	Hold	—	55%
Morgan Stanley	Sep 29, 2026	Maintains	Overweight	$360.00	63%
B of A Securities	Sep 23, 2026	Maintains	Buy	$370.00	70%
Evercore ISI Group	Sep 18, 2026	Maintains	Outperform	$365.00 → $380.00	65%
B of A Securities	Sep 17, 2026	Maintains	Buy	$370.00	70%
TD Cowen	Sep 10, 2026	Maintains	Buy	$400.00	56%
Rosenblatt	Sep 10, 2026	Maintains	Neutral	$303.00	64%

The case for and against

Updated Oct 15, 2026

Bull case

Apple is positioned as a fundamentally strong company because its vast installed base of more than 2.5B iOS devices and 1.5B unique iPhone users creates a durable upgrade cycle, with average device age of 6-7 years implying about 230M annualized replacement demand. Its outlook is further supported by a strong balance sheet, share repurchases, and a premium consumer brand, while new hardware like the iPhone Duo and 18 Pro/Max should reinforce ecosystem lock-in through advanced AI performance, camera improvements, and software integration. Services adds a second growth engine, with 10-15% revenue CAGR expected in FY25-27E, 70%+ gross margins, 1.4B+ paid subs, and recurring revenue streams that can expand earnings and sustain long-term shareholder returns.

Bear case

Apple is facing a deteriorating fundamental setup as META’s 0% platform fee for Muse Connectors directly pressures the App Store’s 15%-30% take rate and risks disintermediating Apple’s ecosystem, which supports more than $123B of Services revenue in FY26A. The company’s 49% average gross margin, built on a 75% Services GM, looks vulnerable if developer defections accelerate or if rising component costs and shortages compress hardware profitability, especially with memory costs up 3-4x Y/Y and Pro model hardware GM potentially down 15%+. Apple is also exposed to maturing iPhone demand, antitrust risk, and slowing Services growth below 10% for FY27-29E, any of which could pressure earnings, valuation, and the premium multiple that has long depended on ecosystem strength.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.