Apple shares reached a new all time high Monday as Wall Street analysts viewed the company’s recent price increases as a potential support for revenue and earnings.
The stock climbed as high as $323.40 during the session, surpassing its previous record of $317.40 set in June. Shares later traded near $316.24, giving Apple a market value of about $4.66 trillion.
The move came after Citi raised its price target for Apple from $315 to $365 while maintaining a buy rating. Analyst Asiya Merchant pointed to Apple’s pricing power, loyal customer base, and the upcoming iPhone 18 launch as factors that could offset pressure on margins.
Apple has increased prices across selected Macs, iPads, HomePods, and Apple TV devices as rising memory and storage costs pressure hardware manufacturers. The increases ranged from about 17% to 25%, according to JPMorgan.
JPMorgan analyst Samik Chatterjee said Apple should be able to absorb the increases without a significant decline in demand. He maintained an overweight rating and raised his price target from $325 to $345.
