In a notable upgrade, investment firm Evercore ISI has increased its price target on Apple to $365 from $330 while maintaining its Outperform (Buy) rating. The move reflects growing analyst confidence in Apple’s ability to deliver sustained growth through its ecosystem, services, and emerging AI initiatives. The adjustment comes as Apple continues to navigate a dynamic tech landscape, with strong fundamentals in iPhone services, wearables, and enterprise adoption. Evercore’s higher target suggests the firm sees significant upside potential — roughly 18% above the current consensus — driven by Apple’s resilient revenue streams and long-term innovation pipeline. Evercore lead analyst Amit Daryanani views Apple as notably well-positioned amid the industry-wide memory supply crunch and rising costs (DRAM/NAND), thanks to its sophisticated supply chain, long-term agreements incremental insourcing, and strong demand planning. According to data from FactSet, Apple currently carries an average analyst rating of Overweight across Wall Street, with a mean price target of $310.12. Evercore’s new $365 target stands notably above this consensus, positioning the firm as one of the more optimistic voices on the stock. Why the Upgrade Matters • Valuation Signal: The $35 increase in the price target underscores Evercore’s belief that Apple’s current valuation does not fully reflect its growth prospects, particularly in high-margin services and potential AI monetization. • Market Context: Apple shares have shown resilience amid broader market volatility, supported by record services revenue and steady hardware demand. Analysts remain broadly positive, though price targets vary based on differing views on AI integration timelines and competitive pressures. • Investor Takeaway: This upgrade adds to a generally constructive tone from institutional research desks. While the consensus target sits lower at $310, several firms have recently nudged targets higher, indicating improving sentiment around Apple’s strategic direction. Support MacDailyNews at no extra cost to you by using this link to shop at Amazon. The post Evercore ISI boosts Apple’s price target to $365 from $330, reinforcing bullish outlook appeared first on MacDailyNews. Invite your friends and earn rewards
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Thursday, May 14, 2026
Evercore ISI boosts Apple’s price target to $365 from $330, reinforcing bullish outlook
Apple-OpenAI partnership frays amid disappointing results, setting stage for potential legal battle
In a development that could send shockwaves through the tech industry, Apple’s stopgap partnership with OpenAI has reportedly become significantly strained, Bloomberg News reports according to sources familiar with the matter. The two-year-old collaboration, which brought ChatGPT integration to Apple Intelligence features across iPhones, iPads, and Macs, is now at risk of escalating into a legal confrontation. OpenAI, the company behind ChatGPT, has reportedly not reaped the level of benefits it anticipated from the deal. As a result, its lawyers are actively working with an outside legal firm to explore a range of options that could be pursued in the near term. These deliberations remain private, but the potential for formal action looms. The partnership was initially hailed as a major win for both sides when it was announced in 2024. Apple’s Eddy Cue played a key role in hammering out the agreement with OpenAI CEO Sam Altman, positioning ChatGPT as a foundational element of Apple’s AI strategy. For Apple, which blatantly missed the generative AI revolution under now-outgoing CEO Tim Cook, it provided immediate access to cutting-edge generative AI capabilities without having to build everything in-house. For OpenAI, it promised massive exposure to hundreds of millions of Apple users worldwide. However, the reality appears to have fallen short of expectations for OpenAI. Recent shifts in Apple’s AI approach — including deeper integration with Google’s Gemini models — have reportedly diluted the prominence of OpenAI’s technology in Apple Intelligence. This diversification has left OpenAI feeling sidelined, especially as Apple continues to emphasize optionality, privacy, and internal development. Compounding the tension is OpenAI’s separate push into AI hardware, including its high-profile collaboration with former Apple design chief Jony Ive. This venture into consumer devices (potentially wearables or dedicated AI companions) may create perceived conflicts with Apple’s own ecosystem ambitions. What This Means for Users and the Industry For everyday Apple users, the immediate impact may be minimal — ChatGPT features are still available in Apple Intelligence — but any legal escalation could disrupt future updates or integrations. Broader implications include: • Accelerated AI Competition: Apple’s multi-partner strategy (OpenAI + Google and potentially others) underscores its commitment to not being overly dependent on any single AI provider. • Challenges for OpenAI: Losing significant traction on the world’s most valuable consumer platform could force OpenAI to double down on direct consumer products, enterprise deals, or its own hardware plays. • Legal and Regulatory Scrutiny: A public fight between these two giants would likely draw antitrust attention, especially given ongoing lawsuits involving Apple, OpenAI, and other players like Elon Musk’s xAI. Apple has a long history of strategic partnerships that evolve or end as its priorities shift (think Intel to Apple Silicon). This fraying relationship should serve as a cautionary tale. The AI gold rush is full of players promising the moon while delivering inconsistent, ideologically slanted, and sometimes outright fictional results. Apple’s measured approach — integrating the best tools where they make sense while building its own foundational capabilities — continues to prove why it remains the most valuable company on the planet. We expect Apple will continue to offer ChatGPT as an option for users who want it, but the days of it being front-and-center in Apple Intelligence appear numbered. Smart move. Support MacDailyNews at no extra cost to you by using this link to shop at Amazon. The post Apple-OpenAI partnership frays amid disappointing results, setting stage for potential legal battle appeared first on MacDailyNews. Invite your friends and earn rewards
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Anthropic’s Mythos helped find bugs in Apple’s macOS
In a striking example of how advanced AI is reshaping cybersecurity, researchers using techniques inspired by Anthropic’s unreleased Mythos AI model have uncovered significant software issues in Apple’s macOS — one of the most hardened desktop operating systems in the world. According to a Wall Street Journal report, security researchers at Calif, a Palo Alto-based firm, made the discoveries while testing an early version of Anthropic’s Mythos (also known as Claude Mythos Preview) in April. They developed software that chains together two bugs and multiple advanced techniques to corrupt the Mac’s memory, ultimately gaining access to restricted parts of the system. This breakthrough comes amid Anthropic’s broader Project Glasswing initiative, which provides select partners — including Apple — with access to the powerful Mythos model. The goal is to proactively hunt for and patch zero-day vulnerabilities before malicious actors can exploit them in an era of increasingly capable AI tools. Why This Matters for Apple and the Industry • macOS Under the Microscope: Apple has long prided itself on the robust security of its desktop OS. Finding new ways to bypass its state-of-the-art protections underscores the relentless evolution of both defensive and offensive capabilities in cybersecurity. • AI as a Bug Hunter: Mythos has reportedly identified thousands of high-severity vulnerabilities across major operating systems and browsers. While not all are publicly detailed, the Calif team’s work demonstrates how AI can accelerate discovery of sophisticated exploit chains that might otherwise go unnoticed. • Responsible Disclosure: Through Project Glasswing, companies like Apple can use these tools internally to strengthen their products ahead of wider AI proliferation, potentially averting major security incidents. Apple has a strong track record of quickly addressing reported vulnerabilities through its security updates. This latest revelation is likely already informing patches that will benefit millions of Mac users.T he Bigger Picture Anthropic’s decision to withhold Mythos from general release while sharing it with trusted partners like Apple, Google, Microsoft, and others reflects growing concerns about AI-powered offensive cyber tools. As these models grow more capable, the race between attackers and defenders is accelerating dramatically. MacDailyNews Take: For Apple investors and users, this story is ultimately positive: it shows the company is actively collaborating at the cutting edge of AI-driven security research to keep macOS secure in an increasingly hostile digital landscape. Anything that makes macOS (and all of Apple’s other OSes) even more secure is a Good Thing
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Evercore ISI boosts Apple’s price target to $365 from $330, reinforcing bullish outlook
In a notable upgrade, investment firm Evercore ISI has increased its price target on Apple to $365 from $330 while maintaining its Outper...
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