Apple (AAPL) shares surged to an all-time high of $311.82 on May 26, pushing its market capitalization to $4.54 trillion and within striking distance of the $5 trillion mark. The rally came as Wall Street analysts raised price targets ahead of the company’s Worldwide Developers Conference (WWDC) in June, where a significantly upgraded, AI-powered Siri is expected to be unveiled.
Bank of America analyst Wamsi Mohan lifted his price target to $380, implying a $5.5 trillion market cap within a year, citing Apple’s control over the user endpoint as a key advantage in the emerging “agentic AI” landscape. Mohan called the smartphone ‘the scaled consumer device where user intent, personal context, app access, permissions, identity, authentication, payments, and trust already converge’, giving Apple meaningful leverage over model providers, developers, and payment networks.
Tigress Financial went even further, reiterating a Strong Buy with a $375 target. The bullish sentiment was backed by Apple’s latest earnings beat: EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion, up 16.6% year-over-year. The stock has gained 22% since the start of Q2, outperforming the Nasdaq.
Analysts see the hybrid AI architecture (on-device processing plus private cloud) as a differentiator that could turn Siri into an agentic interface replacing stand-alone assistants like ChatGPT for many users. Bank of America estimates this could add $65 billion in revenue by 2030. While insider selling and slower iPhone 17e sales in Japan were noted, the overall consensus remains Moderate Buy with an average target of $318.75.
