Apple Hits Record High; Wall Street Lifts Price Targets to $380 on AI Optimism

Apple shares closed at a record high as Wall Street firms raised their price targets one after another, reflecting expectations that, in addition to iPhone replacement demand, the company will emerge as a key platform in the consumer AI market.

Apple rose 2.04% to $355.63 on Nov. 11 in New York, marking a record close. The stock climbed as high as $355.91 during the session, setting a fresh all-time high. It is up 30.8% so far this year.

The gains continued in after-hours trading. As of 5:36 p.m., Apple was trading at $356.50, up 0.24% from its regular-session close.

Evercore ISI raised its price target on Apple to $380 and maintained its outperform rating. The firm focused on the growth potential of Siri's AI features and the possibility of expanding applications built around them.

Bernstein also lifted its price target to $380 from $370. It gave a positive assessment of Apple as a key point of contact connecting consumers and AI services, as well as its potential to expand market share in smartphones and PCs. Still, it slightly lowered its earnings-per-share estimates for fiscal 2027 and fiscal 2028 to reflect recent quarterly results.

DA Davidson, by contrast, raised its price target to $295 from $270 while keeping its neutral rating. The firm said iPhone replacement demand and Mac sales remain solid, but growth in the services segment has fallen short of expectations. Even the revised target remained below Apple's closing price that day.