Citi Lifts Apple Target to $365 on iPhone 18 Catalyst, Shares at $316

Citi raised its Apple price target to $365 from $315 while keeping a Buy rating, citing the September iPhone 18 launch as a key catalyst and projecting 16% upside from the $316.06 premarket level. The upgrade follows an earlier erroneous July 12 report that contained only database errors. The note highlights Apple's market-share gains, selective pricing power, and a potential foldable iPhone in Q4, though a separate Seeking Alpha analysis warns of gross-margin compression from rising NAND and DRAM costs ahead of Q3 earnings.