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HSBC upgrades Apple to Buy, raises price target to $366 ahead of Q3 earnings

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HSBC has become the latest Wall Street firm to show increased confidence in Apple upgrading the stock from Hold to Buy and raising its price target to $366 from $260. Analyst Nicolas Cote-Colisson cited Apple’s “operational turning point,” improving iPhone demand, and a promising AI-driven product cycle as key factors behind the upgrade. The new…

HSBC has become the latest Wall Street firm to show increased confidence in Apple upgrading the stock from Hold to Buy and raising its price target to $366 from $260.

Analyst Nicolas Cote-Colisson cited Apple’s “operational turning point,” improving iPhone demand, and a promising AI-driven product cycle as key factors behind the upgrade. The new target implies roughly 10-12% upside from recent trading levels around $325–$333.

“Apple is at an inflection point with a strong cycle ahead,” the note indicated, pointing to better-than-expected hardware momentum, services resilience, and the upcoming rollout of enhanced Apple Intelligence features. HSBC also outlined a blue-sky scenario that could push the target even higher if AI execution exceeds expectations.

This move follows several other recent analyst actions in July 2026:

• Citi raised its price target to $365 from $315 (Buy rating) on July 13, emphasizing market share gains and AI upside.

• KeyBanc downgraded the stock to Underweight with a $250 target on July 14, a more cautious outlier view.

• Earlier in the month, JPMorgan lifted its target to $345.

The adjustments come as investors gear up for Apple’s fiscal third-quarter earnings on July 30, 2026. Analysts will be watching iPhone sales trends, services growth, gross margins, and forward guidance into the fall launch season.

The consensus on AAPL is a Moderate Buy, with an average price target around $325–$330 across 30+ analysts. Bullish firms continue to highlight Apple’s ecosystem strength and AI potential as drivers for a multi-year growth story.

Apple shares have shown resilience in 2026, up significantly year-to-date, though they remain sensitive to macroeconomic factors and competition in premium smartphones.

KeyBanc is regularly wrong on Apple, so their recent downgrade is actually yet another positive sign for AAPL.

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Source link: https://macdailynews.com/2026/07/23/hsbc-upgrades-apple-to-buy-raises-price-target-to-366-ahead-of-q3-earnings/