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Apple Stock Rises 24% in 2026, Near 52-Week High on iPhone 18 Demand
Why is Apple stock near a 52-week high today?
Apple (AAPL) stock rose 24% in 2026 to Friday's close of $336.13, as US iPhone 18 Pro lead times tripled to 21 days in week two of preorders, reversing early lukewarm demand signals.
Key numbers
| AAPL Friday close | $336.13+24% YTD (per [5]) |
|---|---|
| AAPL 52-week high | $344.57set Jul 29, 2026 |
| iPhone 18 Pro US lead time — week 2 | 21 days+19 days vs week 1 (from 2 days) |
| iPhone 18 Pro Max US lead time — week 2 | 28 days+6 days vs week 1 (from 22 days) |
| Evercore price target (raised) | $380+$15 vs prior target of $365 |
| BofA price target (reiterated) | $370Buy rating maintained |
What happened
Apple (AAPL) stock rose 24% in 2026 to Friday's close of $336.13, as US iPhone 18 Pro lead times tripled to 21 days in week two of preorders, reversing early lukewarm demand signals. Week-one US lead times of just 2 days had trailed the iPhone 17 cycle, raising doubts about the new Pro's $100 price increase; week two erased those doubts, with wait times surging to levels broadly matching last year's launch. JPMorgan analyst Samik Chatterjee also reported the US iPhone 18 Pro Max extended from 22 to 28 days in week two. Evercore ISI then raised its price target to $380 from $365, citing survey data showing 67% of buyers upgrading from an older iPhone versus 48% last year, while BofA's Wamsi Mohan reiterated Buy at $370.
Why it matters
Apple's iPhone accounts for roughly half the company's annual revenue, so early demand signals during the launch window carry significant weight with investors. The sharp reversal from a weak first week to strong second-week lead times suggests the iPhone 18's $100 price increase has not deterred buyers — a key concern heading into the launch. With Evercore and Bank of America both raising or reaffirming targets above $370, Wall Street's consensus view is that the current iPhone cycle will beat expectations.
Who this affects
- MarketbullishMedium impact
- Apple near a 52-week high; tech sentiment broadly positive.
- CompanybullishHigh impact
- Shareholders gain as improved demand supports higher price targets.
- CompetitorsbearishLow impact
- Samsung and Android rivals face a stronger Apple upgrade cycle.
- IndustrybullishMedium impact
- Premium device demand proves resilient despite higher iPhone prices.
Apple vs Microsoft, Alphabet
How we got here
iPhone 18 and 18 Pro go on sale; preorders open in key markets.
JPMorgan: week-one US Pro lead times just 2 days, below iPhone 17 levels.
BofA reiterates Buy at $370, citing carrier trade-in credits up to $1,200.
Evercore raises target to $380 from $365 on strong upgrade-cycle survey data.
JPMorgan: US iPhone 18 Pro lead times triple to 21 days, reversing early weak read.
What to watch
- Week-three US lead times: will the demand surge hold or moderate?2026-09-28
- Apple iPhone Duo (foldable) preorders open; seen pulling some demand from Pro.2026-10-16
- Apple fiscal Q4 FY2026 earnings: first revenue read on the iPhone 18 cycle.Q4 FY2026
Educational content only. Not investment advice.
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