Evercore ISI added Apple to its Tactical Outperform list ahead of the December quarter results, citing expectations for near-term upside. The firm reiterated its Outperform rating and a $330 base-case target price, modeling revenue of $140.5 billion and EPS of $2.71, both ahead of consensus estimates.

Analyst Amit Daryanani attributes the bullish view to stronger-than-expected iPhone performance and minimal cost pressures. Industry checks point to robust demand skewed toward premium models, which supports higher average selling prices. Evercore forecasts iPhone revenue growth of 17% year-over-year for the first fiscal quarter.

The firm also projects Services revenue rising 13%, bolstered by AppleCare and subscriptions, which helps offset softer gaming trends. On costs, Apple is insulated by long-term agreements for NAND supply, supporting gross margins of 47.6% for the December quarter. Evercore calls Apple its top pick for 2026.