Apple Watch 12

Evercore raises AAPL target to $380 on stronger iPhone 18 Pro demand

By Brian's RobotPublished 1h ago0

Evercore raised its AAPL price target by $15 to $380, citing a consumer survey that points to stronger-than-expected upgrade interest in iPhone 18 Pro models and the new Apple Watch lineup — per a note seen by AppleInsider.

Evercore has lifted its Apple (AAPL) price target by $15 to $380, arguing that upgrade demand for the iPhone 18 Pro range and new Apple Watch models looks stronger than many expected — according to a consumer survey and note to investors reported by AppleInsider’s William Gallagher.

That reading is not a confirmed Apple sales print. It is Evercore’s survey-backed take, and it lands on the same day iPhone 18 Pro, Watch, and AirPods first arrivals hit stores worldwide — with same-day Apple Store pickup still a live path for many regions.

What changed in Evercore’s target

New target: $380 (up $15)
Prior May 2026 raise: to $365 (then framed around longer-term prospects investors were underweighting)
This raise’s focus: nearer-term upgrade demand signals from Evercore’s survey, especially for iPhone 18 Pro / Pro Max and Apple Watch Series 12 / Ultra 4

Survey signals Evercore highlighted

AppleInsider says the note, seen by the outlet, includes figures such as:

32% of respondents plan to buy iPhone 18 Pro Max, vs 29% who intended to buy iPhone 17 Pro Max
67% of upgraders cite an aging current iPhone as the driver — up from 48% in the 2025 survey
Buyers still prefer higher storage configurations, which supports average selling price (ASP)
Watch: 38% intend to buy Series 12 / Ultra 4, vs 34% in 2025, with an unspecified majority favoring Series 12

Evercore’s framing runs counter to recent narratives that online pre-orders looked soft. AppleInsider notes this year’s launch mix is different — fewer models plus the foldable iPhone Duo — so early online read-through is unusually noisy.

iPhone Duo: still early in the survey

On foldables, Evercore is more cautious so far:

Only 14% of respondents expect to buy iPhone Duo
That is still above the 9% who said they would buy iPhone Air in the 2025 survey
Demand may improve after real hands-on and after pre-orders begin October 16, 2026
The survey was U.S.-only; foldables have historically been stronger in China (AppleInsider’s additional context)

iPhone 18 Pro is already available online and in Apple Stores; Duo pre-orders open October 16, 2026.

After Evercore’s $380 target note, how do you read iPhone 18 Pro demand?

Stronger than expected — aging phones are driving upgrades0 votes · 0.0%

Mixed — Pro looks solid, Duo still too early0 votes · 0.0%

Still soft — the weak online pre-order read feels right0 votes · 0.0%

Too soon — wait for Duo preorders / earnings0 votes · 0.0%

0 votes · 7 days remaining

Caveat: these are survey intentions and an analyst note, not Apple-reported unit sales. Treat them as one data point against launch-week availability and, later, earnings.

Source: AppleInsider — William Gallagher (Friday, September 18, 2026, 9:41 a.m. EDT).