Apple stock (NASDAQ: AAPL), which remained rangebound at $250 to $270 in 2026, climbed above the $300 level for the first time on Friday’s closing bell. AAPL is now comfortably trading at $308, rewarding traders who held on through the testing times. The overall sentiment towards the global mobile maker remains positive as revenues surge.
While some of them missed buying Apple stock when it was at the $270 level, investment banking firm Evercore ISI wrote in a note to clients that the equity is still cheap even above the $300 range. Analysts from the firm also hiked their price target for Apple and gave out a further bullish prediction. AAPL must now be on traders’ watch-list as the upside potential is immense.
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Price Target of $500 For Apple Stock, Evercore Goes Bullish on AAPL
Prominent Wall Street firm Evercore ISI has gone ultra-bullish on Apple stock with a long-term bull case of $500. They also gave the company an ‘Outperform’ rating and hiked their base price target from $365 to $500. While Apple’s market cap is currently $4.54 trillion, it needs to hit a $7 trillion valuation to reach $500. However, Evercore stressed that the path to $7 trillion is possible, as the company operates in a high-margin service revenue.
If Evercore ISI’s price prediction turns out to be accurate, AAPL could surge by another 62% in the charts. An investment of $1,000 could turn into $1,600+ if the projection becomes reality. Wall Street no longer sees Apple as an iPhone and MacBook maker but rather a leading AI contender aiming for the top spot.
The Tim Cook-led company recently silenced critics after an earnings blowout in Q2, posting $111.2 billion in revenue, with a 17% year-over-year surge. In addition, the iPhone 17 sales also rose an ashtoundishly 22%, making the upcoming earnings call more bullish. Therefore, Apple stock at this level could still be a steal deal.
