China Renaissance Upgrades Apple to Buy With Street-High $425 Price Target

Apple shares rose 1.6% after China Renaissance upgraded the stock to Buy from Hold and raised its price target from $280 to a Wall Street-high $425, representing a 22% upside from Tuesday's $348.51 close. Analysts Jack Zhou and Lemuel Lin cited the foldable iPhone Duo and Siri AI integrations as major catalysts for a new upgrade cycle. The move follows Apple's record fourth-quarter revenue of $114.5 billion, up 12% year-over-year. China Renaissance's optimism diverges from other firms, including JPMorgan, which cut its target to $355 over gross margin compression and slowing services growth.