Apple (AAPL) $240 PT, Buy - Citi Sees Tariff Boost Now, AI Risks Later

Apple Inc. (NASDAQ:AAPL) is a Must-Watch AI Stock on Wall Street. On July 11, Citi analyst Atif Malik reiterated the stock as “Buy” with a $240.00 price target. The firm said it sees some uncertainty for Apple but that it’s sticking with its buy rating.

Adjusting its iPhone unit sales forecast, the investment bank now anticipates 45 million units in the June quarter, up from its previous estimate of 43 million. Moreover, it expects 50 million units in the September quarter, down from the previous 52 million.

The firm attributes June quarter upside largely to tariff pauses and huge discounts in China. However, it remains cautious on full-year iPhone demand based on AI feature delays and Section 232 decisions.

“While we acknowledge upside from the pulled forward demand in the Jun-Q driven by tariffs pause and aggressive promotions in China, we remain cautious on the full year iPhone demand given AI delay and pending Section 232 decisions.”

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