Apple stock surged past the $308 mark following news that the company raised production targets to 10 million units for its anticipated foldable iPhone. With a massive $4.53 trillion market cap, the tech giant is mounting a fierce challenge to retake the title of the world’s most valuable company.Wall Street is buzzing over the upcoming 2026-2027 hardware refresh. Analysts at Evercore ISI maintain an “Outperform” rating on the stock with a $365 price target, driven by the potential of new AI features and a premium “iPhone Ultra” expected to launch around $2,500. This aggressive pipeline shows management’s confidence in squeezing more revenue out of their 2.5 billion active device base.

However, the path forward isn’t without hurdles. Apple recently implemented controversial price hikes across its Mac and iPad lines to offset soaring, AI-driven memory chip costs. While this sparked a temporary dip in June, the swift 5% stock recovery proves investors are willing to pay a premium despite valuation concerns and a 37x P/E ratio.