Apple iPhone 18 Pro Launch Draws Bullish Calls; Evercore Lifts AAPL Target to $380

Evercore ISI raised its Apple (AAPL) price target to $380 from $365 on September 18, 2026, implying roughly 13% upside from the prior close, as the iPhone 18 Pro and Pro Max went on sale in stores and online. Apple shares fell 0.7% to $334.64. Analyst Amit Daryanani cited an annual survey of about 4,000 consumers showing upgrade demand slightly ahead of last year, suggesting the replacement cycle could beat expectations. He rates the stock Outperform. Apple is deviating from precedent by launching only high-end Pro models first, with the standard iPhone 18 expected in spring 2027. Pro pricing is $100 higher than the prior generation, driven by memory cost inflation, pressuring demand. BofA's Wamsi Mohan said carrier promotions largely offset the price increase, rating Apple Buy with a $370 target. Morgan Stanley's Erik Woodring noted healthier lead times for the Pro models, signaling solid underlying demand.