Wall Street sets new Apple price targets as stock surges on US investment

Group 1 - Apple stock surged 5.09% to $213.25, with premarket trading extending gains to $220.00 (+3.17%) following a $100 billion investment commitment to U.S. manufacturing [1][3] - The new investment brings Apple's total U.S. investment to $600 billion over the next four years, focusing on the American Manufacturing Program (AMP) [3][4] - The AMP aims to enhance Apple's supply chain and advanced manufacturing capabilities in the U.S. [3] Group 2 - Major suppliers involved in the AMP include Corning, Coherent, GlobalWafers America, Applied Materials, Texas Instruments, Samsung, GlobalFoundries, Amkor, and Broadcom [4] - Following the announcement, Wells Fargo reiterated its Overweight rating with a $245 price target, while Evercore ISI maintained an Outperform rating with a $250 price target [5][6] - Apple has a "Moderate Buy" consensus rating from 28 analysts, with 15 Buy ratings, 12 Hold ratings, and 1 Sell rating [6] Group 3 - The average 12-month price target for Apple is set at $233.10, with a range from $180.00 to $275.00 [8] - The stock price upgrades follow a strong fiscal third-quarter performance, where Apple reported $94 billion in revenue and EPS of $1.57, exceeding consensus estimates by 10-12% [8][9] - After-hours trading saw gains of 2-3% following the earnings report, although the stock slipped 0.7% during regular trading on the earnings day [9]