Rothschild & Co. Redburn upgrades Apple to ‘Buy’ from ‘Neutral’

Raised the price target to $400 from $260

Schulze-Melander expects Apple to launch the iPhone Ultra in September, giving it a new product category to tap while potentially lifting the average selling price of its broader iPhone lineup.

The analyst estimates the device could cost $2,199, or about an 83% premium to the iPhone 17 Pro Max, meaning even relatively modest volumes could have a meaningful impact on Apple’s revenue mix.

The firm expects the foldable iPhone to increase Apple’s average selling price for the iPhone lineup by 11% by June 2027.

Apple could [also] have [a] revamped artificial intelligence strategy.

Source: Stocktwits

NB: This upgrade was from $260 to $400 which seems significant. This might be because the last target that I could find was in September 2025, so almost a year ago. Not sure if anything of note occurred since. But this is not the only change in analyst targets. There have been 8 other changes in ratings and targets in the two weeks since earnings. Four price target cuts, four downgrades, four price target raises and one upgrade…