Apple (AAPL) Price Target Raised as Loop Capital Sees Stronger iPhone 17 Demand

Core Viewpoint - Apple Inc. is experiencing a significant increase in iPhone 17 base model units, leading to a raised price target from $315 to $325 while maintaining a "Buy" rating [1][2]. Group 1: Price Target and Ratings - Loop Capital analyst Gary Mobley raised the price target on Apple stock to $325.00 from $315.00, maintaining a "Buy" rating [1]. - The price target adjustment is based on updated iPhone estimates reflecting unit and average selling price (ASP) changes [2]. Group 2: iPhone Unit Estimates - Apple is projected to see an increase of approximately 22 million units for the iPhone 17 base model from the December quarter through the June quarter compared to previous estimates [2]. - There is a noted decrease in the iPhone 16 Pro/Pro Max models, which have been discontinued, and adjustments are being made for the iPhone 17 Air [3]. Group 3: ASP Adjustments - The firm is lowering ASPs across all models to better reflect Apple's subsidy absorption with carrier partners [3]. - iPhone 18 models are also being incorporated into the estimates [3].