China Renaissance upgraded Apple (NASDAQ: AAPL) to “Buy” from “Hold” and gave a Street-high $425 Apple stock price target on November 11.

This upgrade reverses an earlier downgrade the iPhone maker received in August 2026 due to sluggish Services growth and margin pressures arising from memory costs. 

Back then, analyst Jack Zhou noted that fourth-quarter guidance implied only 10% growth in Services, a slowdown from the previous quarter, with mobile gaming also weaker than expected.

Now, the tide is shifting, as Apple ended up reporting a fourth-quarter revenue record of $114.5 billion, up 12% from a year ago, with Services reaching an all-time high.

Wall Street Apple stock price forecast

Some of the more…