Apple Price Target Climbs to $375 After $111B Quarter and OpenAI Rift
Tigress Financial lifted Apple price target to $375, up from $305, implying ~26% upside after record March quarter revenue of $111B and $31B services haul alongside a new $100B buyback. On the same day shares slid 1% on reports that OpenAI is pursuing legal options over underwhelming ChatGPT integration.
1. Analyst Price Target Increase
Tigress Financial raised its price target for Apple to $375 from $305, signaling confidence in ongoing growth. Evercore ISI followed suit with a $365 target, highlighting expectations for sustained earnings expansion.
2. Quarterly Financial Highlights
Apple posted $111 billion in revenue for the March quarter, up 16.6% year-over-year, driven by $57 billion in iPhone 17 sales. Its Services division set a record with $31 billion in revenue and the board approved a $100 billion share buyback along with a dividend increase.
3. Strained OpenAI Partnership
Shares dipped 1% after reports that OpenAI is exploring legal remedies over limited ChatGPT integration. The AI firm expected broader in-app embedding and prime Siri placement, which Apple’s current implementation has not delivered.