Wells Fargo Raises Its Price Target on Apple (AAPL) to $290, Maintains "Overweight" Rating

Apple Inc. (NASDAQ:AAPL) is one of the 13 best Fortune 500 stocks to invest in now.

On October 21, 2025, Wells Fargo raised its price target on Apple Inc. (NASDAQ:AAPL) from $245 to $290, maintaining an “Overweight” rating.

The firm’s revised target reflects the company’s strong iPhone upgrade demand, double-digit growth in the Services segment, and new product momentum ahead of Apple Inc. (NASDAQ:AAPL)’s Q4 results.

Separately, almost a week earlier, on October 15, 2025, Apple Inc. (NASDAQ:AAPL) launched its new M5 chip. Built on 3-nanometer technology, the chip can deliver over 4x faster GPU compute performance for AI workloads. It also boasts up to 45% higher graphics performance than its predecessor.

Now, on October 22, 2025, Apple Inc. (NASDAQ:AAPL) unveiled its 11-inch and 13-inch iPad Pro, alongside the 14-inch MacBook Pro, and Apple Vision Pro. These are all powered by the M5 chip, bringing unmatched speed, advanced AI capabilities, and longer battery life.

These developments strengthen Apple Inc. (NASDAQ:AAPL)’s leadership in next-generation computing and should bolster investors’ confidence in its growth trajectory.

Apple Inc. (NASDAQ:AAPL), widely known for its iPhone, Mac, iPad, AirPods, Apple Watch, and Apple TV, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories globally.

While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.