Apple stock (AAPL) has risen 1.6% over the past week, slipped 4.6% in the last month, yet still gained 10.4% over the past year. Wall Street’s analysts are moderately bullish, with a 12‑month consensus price target of $302.96 versus a last closing price of $259.48, implying meaningful upside ahead. The overall analyst consensus stands at “Moderate Buy,” signaling cautious optimism rather than euphoric enthusiasm.
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Among the most notable recent calls, analyst Tom Forte upgraded Apple to Buy on January 30, 2026, setting a price target of $300.00. That target points to solid upside from current levels and aligns with the broader Street view that the stock can grind higher over the next year. Forte, who ranks 1,804 out of 11,984 analysts on TipRanks, holds a 44.13% success rate and an average return of 7.40% per rating, placing him in the respectable middle of the Wall Street pack.
Forte’s bullish stance follows Apple’s stronger‑than‑expected fiscal first quarter 2026 results. The company reported December‑quarter net sales of $143.8 billion, up 15.7% year over year and comfortably above both consensus expectations and his own forecasts, as well as the high end of management’s guidance. Gross margin reached 48.2%, exceeding projections and guidance, while GAAP EPS climbed 18.5% year over year to $2.84, again beating Wall Street estimates. Management’s initial guidance for the following quarter also came in well ahead of what the market had been bracing for, with revenue growth expected to accelerate.
The performance was led by blockbuster iPhone sales and particularly strong demand in China, with iPhone revenue surging 23.3% to $85.3 billion, far surpassing prior records. Services revenue came in roughly in line with expectations, while the company continued to navigate tariffs, which rose to $1.4 billion this quarter as anticipated. Apple also flagged potential memory‑chip supply constraints that could weigh on gross margins in the second half of fiscal 2026, but Forte believes strong demand, pricing power, and operational efficiencies should offset much of this pressure.
A key factor behind the upgraded rating is Apple’s strategic partnership with Google, announced in mid‑January and highlighted on the earnings call. Forte argues this deal helps “de‑risk” investor concerns around Apple’s position in artificial intelligence, allowing the market to focus on the company’s core strengths in hardware, services, and ecosystem lock‑in. Reflecting higher estimates for sales, margins, and earnings for fiscal 2026 and 2027, as well as a higher valuation multiple, he lifted his 12‑month price target from $241 to $300, implying a richer 30x multiple on his FY27 EPS estimate. With the stock trading at about 25.8x his 2027 earnings forecast, Forte sees room for both earnings growth and multiple expansion to drive returns. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.