According to CNBC, Daiwa Capital Markets raised its 12-month price target for Apple to $375 from $335, while maintaining an outperform rating. The new target implies 9% upside from Thursday’s close. Analyst Louis Miscioscia expects backorders and channel inventory to support the Dec and Mar quarters, but said tougher comparisons and higher memory costs could make conditions more difficult after April 27. Apple’s stock is up nearly 27% year to date in 2026, supported by stronger-than-expected demand for the iPhone 17. The company reported $478 billion in revenue for fiscal 2026, up roughly 15% year over year. Daiwa also cited rising memory costs and supply constraints for critical hardware components as potential challenges to Apple’s growth in 2027.