Evercore raises Apple price target to $380 after consumer survey shows stronger iPhone demand

Evercore’s survey suggests stronger short‑term upgrade demand for premium iPhone models and higher ASPs, prompting a $15 target increase. The note implies upside to Apple’s near‑term revenue mix rather than a change to the firm’s longer‑term thesis.

In this brief: 2 sections 1 min read

- 53% of prospective buyers plan to buy an iPhone 18 Pro or Pro Max.
- 32% indicated intent to buy the Pro Max, up from 29% a year earlier.
- 67% of upgraders said their current phone’s age was the main reason to replace (vs. 48% in 2025).
- iPhone 18 Pro list pricing starts higher than prior models; higher storage steps increase revenue per unit.
- Evercore expects stronger mix toward Pro and larger memory configurations to raise ASPs and revenues.
- Firm raised price target to $380, keeping an Outperform/Buy stance.

Read full analysis on appleinsider.com

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