Loop Capital Upgrades Apple (AAPL) to Buy, 'Time to Sink Your Teeth Into This AAPL’s Multi-Year iPhone Run'

Loop Capital analyst Ananda Baruah upgraded Apple (NASDAQ: AAPL) from Hold to Buy with a price target of $315.00 (from $226.00).

The analyst comments "We’re upgrading AAPL to Buy (from Hold) and raising our PT to $315 (from $226). The work of Loop Capital Supply Chain Analyst John Donovan (AAPL: Surging Demand for iPhone 17 Propelling AAPL to New Heights) suggests that we are NOW at the front end of AAPL’s long-anticipated adoption cycle that suggests ongoing iPhone shipment expansion through CY2027 (AAPL’s iPhone 20 Anniversary Phone... there is no iPhone 19, FYI) which comes as a combination of refresh cycle and demand catalyzed by new design cycles. Our $315 PT is 32x our CY2027 EPS of $9.65, which is what folks will be looking at 12 months from now."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $252.29 yesterday.

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