HSBC has upgraded Apple shares to a Buy rating and raised its price target to $366 from $260, saying the company is at an “operational inflection point.” The bank argued that Apple is less exposed to the debate over heavy capital spending because its investment stands at 2.5% of 2026 sales, compared with 39% for hyperscale cloud providers. HSBC also said Apple is well positioned to use its installed base of 2.5 billion devices to roll out its upcoming Apple Intelligence update. On hardware, the bank pointed to what it described as a strong lineup, including the Phone 18 Pro and Pro Max expected this fall, the iPhone Air scheduled for April 2027, and, “most importantly,” a book-style foldable phone.
According to BlockBeats, HSBC on July 17 upgraded Apple shares to Buy and raised its price target to $366 from $260.
HSBC said Apple is at an “operational inflection point.” The bank said Apple can avoid the controversy around high capital spending because it is investing only 2.5% of its 2026 sales, versus 39% for hyperscale cloud providers.
HSBC also said Apple is in a favorable position to use its installed base of 2.5 billion devices to launch an upcoming update to its Apple Intelligence system.
On hardware, HSBC said Apple has a strong product pipeline, including the Phone 18 Pro and Pro Max due this fall, the iPhone Air scheduled for April 2027, and, “most importantly,” a book-style foldable phone.
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