On November 4th, Bernstein ( Bernstein ) raised its target price for Apple ( Apple ) from $370 to $380, maintaining a "outperform the market" rating. Based on the current stock price of $331.90, the new target price indicates a potential upside of about 14.5%. The firm believes that Apple continues to expand its share in the smartphone and personal computer markets, and as an important entry point for consumers to use AI services, it is expected to gain new growth opportunities in the future, although it may take longer for the related benefits to become apparent.

Based on Apple's latest performance guidance, iPhone pricing, and product release schedules, Bernstein has raised its future revenue forecasts by about 2%. However, considering the increase in storage chip costs, pressure on gross margins, and rising research and development expenses, the firm has lowered its earnings per share forecasts for fiscal years 2027 and 2028 to approximately $9.78 and $11.13 respectively, with the forecast for fiscal year 2029 remaining largely unchanged at $12.43. Even so, Bernstein's profit forecasts for 2028 and 2029 are still about 7% to 8% higher than the market's general expectations, suggesting that Apple's long-term profit growth potential has not been fully reflected.