Apple Shares Hold Near 52-Week High as iPhone 18 Cycle Opens

Apple Inc. (NASDAQ: AAPL) traded at about $334 on 14 September, close to a 52 week high, as the first deliveries of its new Pro iPhones approached.

Benzinga reported the stock at $334.20, up 0.61%, at the time of publication on 14 September. Investing.com cited a level of $334.44 the same week and put the shares up 22.5% year to date.

Broker targets clustered above the trading price. Evercore ISI reiterated an Outperform rating with a $365 target following the start of pre orders. Melius Research reiterated a Buy rating with a $370 target, citing revenue potential from the iPhone Duo. Bank of America kept a Buy rating while cutting its target to $370 from $380, pointing to margin pressure from higher memory and component costs. GF Securities analyst Jeff Pu maintained a Hold rating with a $369 target.

The positive ratings sit against a mixed operating picture. Apple has deferred the standard iPhone 18, the iPhone Air 2 and the iPhone 18e to 2027, leaving only premium models in the autumn window, and the iPhone Duo does not reach buyers until 23 October.

InvestingPro noted that 13 analysts had revised earnings estimates downward for the coming period, and assessed the shares as overvalued against its fair value estimate while assigning the company a financial health score of great.

The stock declined on 15 September as brokers published conflicting readings of pre order demand.