Goldman Sachs raises AAPL target to $370 ahead of Q3 results

Goldman Sachs lifted its price target for Apple shares from $340 to $370 before the company’s upcoming quarterly earnings report and analyst call. The firm expects Apple to post strong fiscal third-quarter results, projecting revenue of about $110.1 billion, a 17% increase from the same period a year earlier. It forecasts iPhone revenue of roughly $54.8 billion, supported by higher average selling prices and overall unit growth. Goldman also expects gains across other hardware categories, including modest growth for iPad, stronger growth for Mac, and a smaller increase for Wearables, Home, and Accessories.

The note says Apple has benefited from investor movement away from AI infrastructure trades, improving views of Apple Intelligence after WWDC, and continued strength in its hardware business despite price increases tied to memory costs. Goldman argues that Apple’s loyal customer base gives the company resilience against higher prices, while lower-cost products such as the iPhone 17e and MacBook Neo may support broader demand. Although Goldman sees App Store growth slowing, it expects services tied to products, including iCloud+ and AppleCare+, to help drive overall Services revenue higher. The firm also notes risks, including weaker market demand, supply chain problems, competitive pressure, and regulatory challenges in the United States and abroad. This marks another upward revision by Goldman in 2026 after earlier increases in January and May.

Summary generated July 31, 2026. AI summaries can make mistakes.