Investment firm Evercore has raised its price target for Apple by $35 to $365, citing confidence in the long-term benefits of Apple Intelligence. This move aligns with other bullish sentiment, such as Wedbush's recent $400 target, both predicated on the potential of the new AI suite. Evercore's analysis, contained in a deep dive spanning over 100 pages, advises investors to focus beyond short-term hurdles like ongoing shortages and minor delays concerning Apple Intelligence.

Evercore maintains that the company's unrivalled ecosystem is the core driver for sustaining mid-to-high single-digit revenue growth. This growth projection hinges on several factors, including enhancing gross margins through Services, tight supply chain control, an increasing mix of premium iPhone models like the anticipated iPhone Fold, and the monetization of AI.

The firm believes AI revenue streams could materialize not only from charging for certain Apple Intelligence features but also through potential App Store subscription revenue generated by third-party apps utilizing the new technology. Despite noting the delay, Evercore suggests a successful rollout of Apple Intelligence is feasible later in 2026, potentially without the massive capital expenditure seen by competitors.