Analysts at investment firm Evercore believe Apple Intelligence will be a long-term boon for the company, prompting it to raise its target from $35 to $365.
Evercore is not the first company to bet on the future of Apple Intelligence, as Wedbush recently raised its price target to an all-time high of $400 on the same expectations. Additionally, Evercore has remained consistently bullish on Apple, with this latest increase being the fifth since September 2025.
Now, in a note to investors seen by woozadEvercore analyzed every aspect of Apple and its potential in over 100 pages. This is the sixth year Evercore has done this in-depth analysis, and the headline for 2026 is that investors should consider Apple longer term.
Specifically, he concludes that investors tend to focus too much on short-term issues such as persistent delays in Apple Intelligence and current memory and processor shortages. Instead, Evercore believes the key problem is Apple’s ecosystem.
Analysts argue that Apple’s ecosystem is second to none and plays a key role in how it can sustain mid- to high-single-digit revenue growth. This growth, he says, will come through:
- Gross margins on Apple’s services mix
- Control of Apple’s supply chain
- More and more premium iPhone models
- Monetize AI
This increase in high-end iPhone models includes the anticipated iPhone Fold, which Evercore believes will significantly increase Apple’s average selling price. Next, AI monetization includes the prior expectation that Apple could eventually charge for certain Apple Intelligence features.
But it also includes the more recent suggestion that Apple could benefit from App Store subscriptions for apps using Apple Intelligence.
Evercore again notes that Apple Intelligence has been delayed, but believes a successful launch later in 2026 is possible. Its analysts also believe that Apple can succeed with Apple Intelligence without having to match the extreme capital spending that its rivals have pursued.
Apple is expected to unveil its enhanced Siri and Apple Intelligence features at WWDC 2026.