Melius Raises Apple (AAPL) Price Target to $385 Ahead of WWDC

Melius Research raised its price target on Apple Inc. (NASDAQ:AAPL) from $355 to $385, an 8.5% increase, while maintaining a "Buy" rating. The revision comes ahead of Apple's Worldwide Developers Conference (WWDC) in June, where new products and services are expected.

Rating Change

• Previous Price Target: $355
• New Price Target: $385
• Rating: Buy (unchanged)
• Increase: 8.5%

Analyst Rationale

The Melius analyst believes Apple "may be on the brink of some real AI sizzle," which could boost demand for its products and services. The analyst expects Apple to unveil new AI features for iOS and other devices at WWDC, potentially triggering a strong upgrade cycle.

Context

The update follows data showing Apple was among the 12 most bought stocks by hedge funds in Q1 2026. The stock has risen about 15% year-to-date but remains below its all-time high. Other analysts, including those at Morgan Stanley and Goldman Sachs, have positive ratings with price targets ranging from $370 to $400.

What This Means

raising the price target reflects growing optimism about Apple's ability to capitalize on AI. Investors are closely watching WWDC for signals on upcoming innovations. It is advisable to monitor the stock's performance after the conference to assess whether expectations are met.