Evercore ISI Maintains Apple Outperform Rating Despite Hardware Price Hikes Up to 25%

Key Facts

In a move reflecting the necessity of protecting gross margins amid supply chain pressures, Evercore ISI reaffirmed its 'Outperform' rating on Apple stock with a $365 price target. This confirmation comes despite Apple increasing prices for certain Mac, iPad, and home device models by 17% to 25%. These price hikes are directly attributed to surging costs for memory components, which the company could no longer absorb internally.

These pricing adjustments occur as the tech industry faces mounting cost pressures for DRAM and NAND chips, prompting Apple to take aggressive pricing actions compared to peers. Per market data, MSFT is trading at $308.63 and GOOGL at $359.91, as markets monitor the ability of tech giants to pass costs to consumers without dampening demand. Previous earnings reports from competitors suggest that semiconductor costs have become a critical factor in hardware profitability.

Investors should watch AAPL price levels, which stood at $308.63 at close July 02, 2026, after trading between a low of $293.68 and a high of $309.42. Looking at the economic calendar, the Manufacturing PMI data from China scheduled for June 30 may impact supply chain outlooks. The upcoming focus will be on how global demand responds to these price increases in the next quarterly sales reports.