Breaking News

On Monday, Citi raised its price target on Apple to $365 from $315 while maintaining its Buy rating. The move reflects stronger margin expectations and rolled-forward financial estimates amid what the bank sees as Apple’s continued resilience in a tough environment for devices.

Apple shares were trading at new all-time highs in Monday morning trading, as investors digested the positive commentary ahead of the company’s upcoming earnings report. Citi remains constructive on the stock, highlighting Apple’s ability to gain market share even as broader smartphone and PC markets face headwinds.

Citi notes that smartphone and PC markets are likely to decline by mid-to-high teens percent. Despite this, Apple is positioned to outperform. According to the note:“continues to outperform the broader smartphone market through share gains, design-driven demand, and strong positioning in the mid-range price segment via promotions and subsidies.”

The firm also stated that Apple “should continue gaining market share despite a slowing devices market.”

A key driver behind the higher price target is Apple’s demonstrated ability to implement selective price increases. Citi observed that Apple raised prices on several products mid-quarter amid rising component costs and is evaluating additional memory suppliers to diversify its supply chain.

While iPhone prices remain unchanged for now, Citi expects price increases in the upcoming September launch cycle:“with more focus likely on the higher end models where demand is more resilient.”

The bank also flagged an expected foldable iPhone launch in the fourth calendar quarter. These factors support higher margin expectations following recent price increases.

On Apple Intelligence, Citi takes a pragmatic view. The note states that Apple Intelligence is:“unlikely to drive a significant upgrade cycle in the near term.”

However, the bank sees meaningful longer-term potential from enhanced Siri AI capabilities, which should increase user engagement and support growth in high-margin services revenue.

Citi identifies the September iPhone launch as:“an important catalyst that could further strengthen investor sentiment.”

This event is viewed as a potential positive for both hardware momentum and overall investor confidence.

On the services side, Citi notes that Sensor Tower data showed App Store revenue in the June quarter grew just 3% year-over-year — tracking below company guidance. That said, the bank views iCloud and advertising as stronger drivers for future revenue growth.

Citi’s raised price target to $365 reflects a combination of:

• Continued market share gains in a challenging devices environment
• Ability to protect and expand margins through selective pricing
• Rolled-forward estimates and stronger margin expectations

Citi’s note underscores Apple’s structural advantages — brand strength, ecosystem lock-in, and pricing power — even as near-term AI-driven upgrade cycles remain limited.

---

‎

.

Source link: https://macdailynews.com/2026/07/13/citi-hikes-apple-price-target-to-365-bullish-on-market-share-gains-and-pricing-power/

In a sharp escalation of tensions between two of the tech industry’s biggest players, Apple has filed a civil lawsuit against , accusing the AI powerhouse of stealing confidential information from former Apple employees to advance its own efforts in building competing hardware devices.

The complaint, filed Friday in the U.S. District Court for the Northern District of California, targets along with two of its executives: chief hardware officer Tang Tan and technical staff member Chang Liu, both former Apple employees. Apple claims they improperly took proprietary data to help accelerate development of AI-powered devices that could rival Apple’s ecosystem.

According to the suit, Tan and Liu used various methods to extract Apple’s confidential information, including trade secrets related to product design, engineering, and hardware development. The goal, Apple alleges, was to bolster ’s push into consumer devices—potentially including screen-free or AI-centric hardware initiatives that overlap with Apple’s ambitions in areas like Siri enhancements and Apple Intelligence.

“Former Apple employees took confidential information to to advance the AI company’s device efforts,” the complaint states. Apple emphasizes that such actions breach the trust and legal obligations these individuals owed their former employer.

This lawsuit comes amid a complex web of partnerships and rivalries in the AI sector. Apple and have a high-profile collaboration, with ’s ChatGPT integrated into Apple’s iOS, iPadOS, and macOS platforms. However, the suit highlights underlying friction as both companies vie for dominance in AI hardware and software.

The filing underscores the intense talent wars and intellectual property battles defining the AI boom. Tech giants routinely poach top engineers, but accusations of trade secret misappropriation have become more common as companies race to lead in generative AI, on-device processing, and next-generation consumer gadgets.

Apple, known for its tight control over its supply chain and design secrets, has a history of aggressively protecting its intellectual property through litigation. , valued at hundreds of billions and backed by major investors, is rapidly expanding beyond software into hardware explorations, often in partnership with figures like former Apple chief designer Jony Ive.

Such suits often lead to countersuits or settlements as companies seek to avoid prolonged public scrutiny of internal practices.

• Reinforces its reputation as a defender of innovation secrets while potentially straining its partnership with on AI features for iPhones and Macs.

• Could slow hardware momentum and invite closer scrutiny of its hiring and integration practices.

• May prompt other firms to tighten employee agreements and non-compete enforcement in the high-stakes AI talent market.

The case is expected to draw significant attention as it unfolds, potentially revealing more details about the secretive race to build the next generation of AI devices. Apple is seeking injunctive relief, damages, and the return or destruction of any misappropriated materials.

---

‎

.

Source link: https://macdailynews.com/2026/07/10/apple-sues-openai-alleging-theft-of-trade-secrets-to-fuel-hardware-ambitions/