TD Cowen Raises Apple Price Target to $335
TD Cowen analyst Krish Sankar raised the price target on Apple (NASDAQ: AAPL) to $335.00 (from $325.00) while maintaining a Buy rating.
“AAPL’s solid Mar Q wasn’t surprising, but the Jun Q guide for up 14-17% Y/Y was well above Street expectations for +10% from strong underlying demand for iPhone and Mac products.
While SoC supply constraints could take a few months to sort out, memory cost inflation will be a bigger concern for C2H26 GM as we estimate DRAM and NAND pricing by mid-CY26 could be up ~180% from C3Q25 levels.
We think AAPL has the option to absorb some costs NT, increase future product prices, or deploy the balance sheet strategically.
We believe the pivot away from the prior net cash neutral target was incremental, though how this will affect AI or subscription content investments is unclear.
Despite all this, we still model for FY26/27 EPS growth of +17%/ +7% Y/Y. New $100B buyback (total $160B capacity) also a positive.”
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