Evercore ISI analyst Amit Daryanani raised the firm’s price target on Apple (AAPL) to $290 from $260 and keeps an Outperform rating on the shares. The firm’s annual survey of nearly 4,000 U.S. consumers around iPhone purchase intentions points to the start of a better-than-expected iPhone refresh cycle, led by a strong lineup of products, the analyst tells investors. The firm thinks Apple’s core strength remains concentrated in the Pro tiers, but adds that the iPhone 17 appears to have exceeded initial expectations, noting reports of strong first week sales.
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