Goldman Sachs has hiked its AAPL price target to $370, just ahead of Apple reporting its fiscal third-quarter 2026 results. In a note to investors shared by AppleInsider, issued on July 27, Goldman Sachs has increased the price target from $340 to $370.
Goldman Sachs predicts revenue of $110.1 billion for the Q3 period, representing 17% year-over-year growth. iPhone is expected to bring in $54.8 billion, up 23% year-over-year. The firm’s analysts believe the iPad will see minor 4% annual growth to $6.83 billion, the Mac will grow 15% to $9.28 billion, and Wearables, Home, and Accessories will grow to $7.79 billion, up 5% year over year.
While smartphone sales are down in several countries, the iPhone enjoys a customer base that sticks with it, no matter the cost (at least so far).
Goldman Sachs sees Apple’s App Store slowing, although services like AppleCare+ and iCloud+ will contribute to the unit’s growth. with a possible 15% year-over-year increase to $31.4 billion.
Goldman Sachs doesn’t see everything as rosy, citing risks posed by potential market softening, supply chain reliability, regulatory risks around the globe, and competition from other vendors.