Daiwa Raises Apple Price Target to $375

Daiwa Capital Markets lifted its 12-month target on Apple to $375 from $335 and kept an outperform rating after the company's latest earnings report.

Updated on Nov. 8, 2026 in Corporate Finance

Daiwa Capital Markets raised its 12-month price target on Apple to $375 from $335 and maintained its outperform rating. The move follows Apple's fiscal 2026 revenue of $478 billion, which rose about 15% from a year earlier.

Why it matters

Daiwa analyst Louis Miscioscia expects Apple's growth to face a tougher test after the March quarter as rising memory costs and harder year-over-year comparisons weigh on results. The analysis suggests that maintaining cost and margin support will be harder in 2027.

Daiwa's new $375 target implies about 9% upside from the Nov. 5 closing price, and 25 of the 43 analysts covering Apple carry buy or strong buy ratings. Apple shares rose nearly 27% in 2026 through Nov. 5, but the extraction does not give the breakdown of how much of that gain followed the latest earnings report.

The players

Apple

Apple is the Cupertino, California-based technology company whose iPhone, Mac and services businesses drive its revenue and whose shares are widely held by institutional and retail investors.

Daiwa Capital Markets

Daiwa Capital Markets is the Tokyo-headquartered investment bank and brokerage whose research arm publishes equity ratings and price targets on major U.S. technology stocks.

Louis Miscioscia

Louis Miscioscia is a Daiwa Capital Markets equity analyst who covers large-cap technology companies and authored the Apple price target revision.

The details

Apple reported fiscal 2026 revenue of $478 billion after the Nov. 2 earnings report, and its shares edged lower following the release. Daiwa said earlier contracts and inventory helped Apple manage costs and margins, and that backorders and channel fill are expected to support the December and March quarters, while stronger-than-expected iPhone 17 demand supported stock gains.

Nov. 2, 2026: Apple reported quarterly earnings and its shares edged lower.
Nov. 5, 2026: Closing price used for Daiwa's upside calculation.
March quarter 2027: Apple's growth is expected to face a tougher test.
April 27, 2027: Favorable backorder and channel fill conditions could last until this date.

Market Dynamics

Apple has not posted two consecutive fiscal years of double-digit growth since fiscal 2015, so the 15% rise in fiscal 2026 revenue is measured against that record. Daiwa's view that growth will face a tougher test after the March quarter suggests the company must sustain momentum beyond a single strong year to match it.

Investors holding Apple stock or considering a purchase face an implied 9% upside to Daiwa's new target, which may influence portfolio allocation decisions. Those tracking the stock should watch whether the expected growth slowdown after the March quarter materializes in company results.

The takeaway

Analyst upgrades reflect expectations, but the company's ability to sustain growth beyond a single strong year will determine whether the higher target holds. Readers tracking Apple should weigh both the near-term demand support and the cost pressures the analysis flags for 2027.

What happens next

Apple's growth is expected to face a tougher test in the March quarter 2027, and favorable backorder and channel fill conditions could last until April 27, 2027.