Wall Street analyst Amit Daryanani of Evercore ISI is doubling down on his bullish stance on Apple, declaring that the company’s powerful services flywheel is now operating at maximum velocity.
In a new research note published Tuesday, Daryanani reiterated his Outperform rating on Apple (AAPL) shares and maintained his $330 price target, highlighting the self-reinforcing growth engine driven by Apple’s massive installed base of more than 2 billion active devices.
The “flywheel” effect refers to how Apple’s expanding ecosystem of hardware, led by the iPhone, drives higher engagement with high-margin services such as the App Store, Apple Music, iCloud, Apple Pay, and licensing deals. As more devices enter the ecosystem and users deepen their reliance on Apple’s software and services, revenue from these recurring streams accelerates, funding further innovation and customer loyalty in a virtuous cycle.
Daryanani’s comments come as Apple continues to benefit from strong services momentum, even amid a maturing hardware market. The analyst has consistently positioned Apple as one of his top picks for 2026, citing a robust product refresh cycle, AI-enhanced features across the lineup, and the potential for sustained mid- to high-single-digit revenue growth paired with double-digit EPS expansion.
Apple shares have faced pressure in recent months, but bullish voices like Evercore ISI see the current environment as an opportunity, with the services business acting as a reliable growth stabilizer and margin expander.
The $330 target implies significant upside from recent trading levels and sits near the high end of Wall Street forecasts.
MacDailyNews Take: We’d love to see Apple finally break the $300 mark before the close of the decade. 🙄
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I agree with Amit’s analysis. He knows what he is talking about.