Wells Fargo Reaffirms Overweight on Apple as China iPhone Sales Surge
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Wells Fargo has reaffirmed an Overweight rating on Apple Inc. (AAPL) with a price target of $300, citing a surge in iPhone demand in China. Shipments of non-Chinese branded phones rose 128% year-over-year, boosting Apple's market share from 10.6% to 22.4%. Despite a decline in Chinese-branded phone shipments, Apple remains strong in the high-end market. Analysts from Jefferies and Morgan Stanley have also adjusted their ratings and price targets, reflecting confidence in Apple's ability to navigate regulatory challenges and maintain growth through 2026.
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