BlockBeats News, July 17th, HSBC upgraded Apple Inc. stock to a Buy rating, citing that it is at a "turning point in operations." Additionally, Apple's target price was raised from $260 to $366.

HSBC believes that Apple is currently at an "operational turning point." Apple can avoid the high capex controversy as it only invests an amount equivalent to 2.5% of its 2026 sales, compared to up to 39% for mega-scale cloud providers. Moreover, Apple is in a favorable position to leverage its installed base of 2.5 billion devices to roll out the upcoming Apple OS update.

HSBC sees Apple's hardware product line as strong, including the Phone 18 Pro and Pro Max launching this autumn, the iPhone Air coming in April 2027, and, "most importantly," a clamshell foldable phone.