Apple Stock Forecast: Trending As Analysts Weigh AI Upside

Apple (AAPL) stock has risen 4.5% over the past week, gained 1.0% in the last month, and is up 19.0% over the past 12 months. Wall Street’s analysts are moderately bullish, with a “ModerateBuy” consensus and an average 12‑month price target of $305.49 versus a last closing price of $270.01. That implies meaningful upside if Apple can deliver on expectations for a powerful iPhone cycle, expanding services, and new AI-driven features over the next few years.

One of the most optimistic voices is Wamsi Mohan of Bank of America, who reiterated his Buy rating on Apple on February 2, 2026, with a price target of $325.00. This implies notable upside from current levels and reflects his belief that Apple is entering 2026 with multiple tailwinds: better‑than‑expected iPhone upgrades worldwide (including China), rising gross margins despite cost and tariff headwinds, the coming launch of AI‑enabled Siri in 2026, and expectations for a foldable iPhone in September 2026. Mohan also highlights Apple’s record installed base of 2.5 billion devices, which he expects will support continued double‑digit growth in high‑margin Services.

Mohan points to Apple’s impressive gross margin performance as a key part of the bull case. The company delivered gross margins of 48.2%, driven by a favorable mix shift toward Services, strong product mix, and operating leverage, even while absorbing a $1.4 billion tariff impact in the quarter. Management guided March‑quarter gross margins to 48%–49%, with tariffs expected to be a smaller drag. Mohan argues Apple has multiple levers to offset rising component and memory costs, and notes that iPhone demand is relatively insensitive to modest price increases, suggesting that a $50–$100 price hike would likely not meaningfully slow demand but could protect margins.

Another perspective comes from Helena Wang of Phillip Securities, who is more cautious but turning less negative. On February 2, 2026, she upgraded Apple from Reduce to Hold (Neutral) and raised her discounted cash flow-based target price to $260.00 from $230.00. Wang acknowledges a booming iPhone 17 cycle and a sharp rebound in China, with first‑quarter 2026 revenue up 16% year over year and iPhone sales up 23%, the fastest growth in four years. She sees durable momentum in the iPhone 17 lineup, supported by strong upgrader and switcher activity and constrained supply, and she slightly raises her long‑term growth and profit assumptions, helped by Apple’s collaboration with Google’s Gemini to enhance Apple Intelligence and the upcoming Siri rollout. However, she stresses that rising memory costs pose a margin headwind and that Apple is still in a “prove‑it” phase given its rich valuation around 30.7x forward FY26 earnings.

For investors, the message from these experts is that Apple remains a battleground between strong growth drivers and valuation and cost concerns. Mohan, a highly ranked analyst (110 out of 11,984 on TipRanks, with a 62.37% success rate and 25.10% average return per rating), sees Apple as an eventual winner in AI at the edge, backed by strong capital returns and optionality from new products and markets. Wang, with a 54.55% success rate and 11.40% average return per rating (ranked 4,007 out of 11,984), is more measured, waiting for clearer proof that Apple can sustain product‑led growth and execute a successful AI‑powered Siri rollout to justify its valuation. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.