What the analyst said
KeyBanc analyst Brandon Nispel reiterated an Underweight rating and $250 price target on Apple (NASDAQ: AAPL).
“We remain Underweight AAPL ($250 PT). Our KFLD shows Indexed Spending -18% m/m in October, which is well below the three-year avg of -5% m/m, and y/y slowed to +4%. We think part of the decline reflects normalization after September’s spike, though also: 1) greater contribution from pricing; 2) softening demand for iPhone 18; and 3) likely limited Duo sell-through.
We think this is a negative data point and supports our view that September strength was driven by early adopters, where slowing unit growth is evident in our data, and AAPL’s guide.”
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Where the price stands
AAPL trades at $355. The 21 analysts who set a target in the last 3 months range from $250 to $425, with a median of $350. This $250 target is 29% below the median, the lowest on the Street.
12-month window: day 0 of 365, closes on November 12, 2027.
Track record
This callOpen: AAPL has not reached $250 yet. This 12-month target is scored on October 15, 2027. Same target as this firm’s October 15, 2026 note, so it is scored there.
Firm track recordKeyBanc: 79% of its 24 targets at least a year old were reached within 12 months (#12 of 26 firms). Accuracy ranking →
KeyBanc on Apple
KeyBanc price targets on Apple
8 calls from June 9, 2026 to November 12, 2026. The target stayed at $250. The rating moved from Hold to Sell.
- November 12, 2026 This noteKept the $250 targetSell$250
- November 3, 2026Kept the $250 targetSell$250
- October 19, 2026Kept the $250 targetSell$250
- October 15, 2026Kept the $250 targetSell$250
- July 31, 2026Kept the $250 targetSell$250
- July 28, 2026Kept the $250 targetSell$250
- July 14, 2026Downgraded to Sell, set a $250 targetSell$250
- June 9, 2026Earliest call shownHoldNo target
Other analysts on Apple
BernsteinBuy
Kept rating and price targetReiterated · Nov 12
$380maintained
China RenaissanceBuy
Upgraded · Nov 11
$425
EvercoreBuy
Kept rating and price targetReiterated · Nov 9
$380maintained
JP MorganBuy
Kept rating and price targetReiterated · Nov 9
$355maintained
DZ BankSell
Downgraded · Nov 4
$300