Apple (AAPL) Upgraded to Buy at Loop Capital as Multi-Year iPhone Growth Cycle Begins

Apple Inc. (NASDAQ:AAPL) is one of the AI Stocks Making Moves on Wall Street. On October 20, Loop Capital upgraded the stock to “Buy” from Hold and raised its price target to $315 from $226 per share. The firm cited stronger-than-expected demand for the iPhone 17 and a multi-year growth cycle extending through 2027 behind the rating upgrade.

Loop Capital noted that “we are NOW at the front end of AAPL’s long-anticipated adoption cycle that suggests ongoing iPhone shipment expansion through CY2027.”

It now anticipates “three consecutive record iPhone shipment years (CY2025–CY2027),” projecting 238 million units in 2025, 250 million in 2026, and more than 260 million in 2027.

Moreover, while “there is still more iPhone unit (and ASP) upside to Street than is understood,” average selling prices remain “materially higher than Street” estimates.

“We’re upgrading AAPL to Buy (from Hold) and raising our PT to $315 (from $226). The work of Loop Capital Supply Chain Analyst John Donovan (Surging Demand for iPhone 17 Propelling AAPL to New Heights) suggests that we are NOW at the front end of AAPL’s long-anticipated adoption cycle that suggests ongoing iPhone shipment expansion through CY2027 (AAPL’s iPhone 20 Anniversary Phone… there is no iPhone 19, FYI) which comes as a combination of refresh cycle and demand catalyzed by new design cycles. Our $315 PT is 32x our CY2027 EPS of $9.65, which is what folks will be looking at 12 months from now.”

The tech giant is planning to roll out iPhones with differentiated designs, including lighter and foldable devices. These rollouts will likely lead to an increased demand for its flagship products.

Apple will also likely be releasing its first purpose-built “AI Phone,” which the firm believes is going to be another innovative product release from the company.

If this ends up being the case, then this would ultimately qualify as the third consecutive year of design innovation,” the firm said.

Apple is a technology company known for its consumer electronics, software, and services.

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