HSBC Sets New Record Apple Price Target at $366

HSBC analyst Nicolas Cote Colisson has upgraded Apple from Hold to Buy with a new price target of $366. This shift comes just after Apple hit an all time high of $334.68 on July 16. The bank previously focused on chip makers and infrastructure firms, but it is now betting that Apple can benefit from artificial intelligence without the massive capital spending required by other tech giants.

The core of the bullish outlook rests on Apple’s massive base of 2.5 billion devices and its upcoming AI features. Analysts believe that while competitors are spending nearly 40% of their sales on data centers, Apple can grow with a much leaner capital expenditure profile of about 2.5%. This efficiency is expected to show in the company's financial results as it prepares to roll out new hardware, including the iPhone 18 series and future foldable models.

Investors are now looking ahead to the July 30 earnings report to see if this optimism translates into solid performance. While HSBC has raised its revenue and earnings estimates, some analysts remain cautious due to rising memory costs and the stock's high valuation. The market is currently split between those betting on Apple's AI driven growth and those waiting for clearer signs regarding margin pressure.