TD Cowen analyst Krish Sankar raised the price target on Apple (NASDAQ: AAPL) to $290.00 (from $250.00) while maintaining a Buy rating.

The analyst comments: "Mar '25 Q guide for LSD-MSD% Y/Y growth, China demand trends, and data suggesting Apple Intelligence rollout does drive upgrades were encouraging reasons to remain positive ahead of accelerating iPhone growth in C2H25. DD% growth in Mac and iPad from refreshes also positives. Services' +14% Y/Y growth and 75% GM underpinned by paid subscriptions and leverage in some segments. SOTP PT to $290.

iPhone is seeing early benefits of AI upgrades and momentum should build through the year. China demand could recover as AI features get launched. Strong GM performance also a positive and supportive of ~$110B in capital returns in FY25."