By Kit Norton

Apple stock has been struggling this year, including a current run of four straight weekly declines, but recent analyst reports tout iPhone loyalty and the release of a new MacBook as reasons to be optimistic.

Shares rose 1.1% to $255.39 on Thursday following a bullish research note from Monness, Crespi, Hardt & Co. Analyst Brian White maintained a Buy rating on Apple with a $315 price target, representing 25% upside compared with Wednesday's closing price of $252.62. White's price target is also 9% above Apple stock's all-time high of $288.62 from Dec. 3, 2025.

"Apple's innovation engine was in high gear this month with a flurry of new products unveiled across the Mac, iPhone, iPad, and AirPods families, " White wrote Thursday.

White called the unveiling earlier this month of Apple's new MacBook Neo "the star" and a "potential catalyst in expanding the company's user base." The Neo starts at $599, which is significantly less expensive than other MacBooks. That's a price comparable to computers from companies like HP Inc., Dell Technologies, and Lenovo, which are raising prices to offset the surging cost of memory.

The analyst added that Apple celebrates its 50th anniversary on April 1, noting that the company also confirmed this week that WWDC will be held June 8-12 with a keynote on June 8.

"In our view, Apple is innovating with industry-leading products supported by a powerful digital grid and ramping Apple Intelligence; however, regulatory headwinds persist, tariffs remain a wildcard, component pricing is on the rise, and the macro treacherous," White wrote.

Meanwhile, the iPhone still looms large as a reason for Wall Street's positive view on Apple.

A UBS analyst team led by David Vogt found that more customers across all regions plan to have their next smartphone purchase be an iPhone. The findings were based on a survey of 4,000 iPhone users.

Vogt noted that users' "intent" to purchase an iPhone increased 400 basis points compared with last year in China, representing a " positive surprise in our view given the competitive backdrop."

Overall, 74% of current iPhone owners upgraded from a prior iPhone, representing an increase of 200 basis points compared with a year ago, according to UBS. This demonstrates the "stickiness of the iPhone ecosystem," the analyst noted.

UBS also sees Apple services, including music and iCloud, as positives for the business, with the ability to help the company weather higher input costs ahead of a possible foldable phone coming out this fall. Vogt forecasts the cost of the foldable Apple phone will be $2,000-$2,500.

UBS has a Neutral rating and $280 price target on Apple.

Apple stock entered Thursday down 7% this year. Shares are attempting to break a run of four straight weekly declines in which they have dropped 6.4%, falling below the 50-day moving average, a key technical level right around $260.20.

However, the stock appears to have found support at the 200-day moving average, just above $247. Shares bounced off the 200-day moving average on Friday and are now on pace to book gains in four consecutive trading days. Apple stock is up around 3% so far this week.

FactSet has an average Overweight rating and a $298.77 price target for Apple, based on coverage from 53 analysts.

Write to Kit Norton at kit.norton@barrons.com

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March 26, 2026 15:28 ET (19:28 GMT)

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