Apple Just Hit a New High. These Experts Say the iPhone Maker's Stock Has More Room to Run

Apple shares rallied to record highs above $323 on Monday, climbing nearly 3% before giving back some gains as the broader tech sector lost ground. Analysts at Citi increased their price target to $365 from $315, citing expectations that Apple can keep gaining market share on the strength of its premium brand and design-led demand. Citi highlighted “solid iPhone 17 sales” amid weakness in phones and laptops, and suggested that price increases could eventually extend to iPhones following Apple’s recent moves to offset higher memory costs. The firm also pointed to an AI-enhanced Siri as a potential driver of revenue and engagement, with attention turning to Apple’s September launch event. The update comes as Apple faces a pivotal second half, including a CEO transition from Tim Cook to John Ternus and new product launches, possibly including a foldable iPhone. Apple also filed a lawsuit late Friday against OpenAI over alleged trade secret theft involving former and current employees.