Financial report before raise target price! Citigroup: Apple Inc.(AAPL.US) is expected to continue expanding its market share.

Before Apple Inc. (AAPL.US) announced its latest quarterly performance on July 30, Citigroup released a research report raising the target price of Apple Inc. from $315 to $365 and maintaining a "buy" rating. Citigroup believes that despite the slowdown in global smartphone and personal computer market growth, Apple Inc. still has the potential to continue expanding market share with its brand strength, product pricing capabilities, and continuously improving AI ecosystem. Citigroup analyst Asiya Merchant stated that Apple Inc. remains one of the large tech stocks she is bullish on. She expects Apple Inc. to continue offsetting cost pressures by selectively increasing product prices, and its high-end brand positioning and loyal user base will help mitigate the impact of slowing demand. Merchant pointed out that while Apple Intelligence is not expected to drive a large-scale upgrade cycle in the short term, the new generation Siri artificial intelligence function will increase user engagement and bring long-term growth momentum to the high-margin service business. In addition, the upcoming new iPhone to be released in September is also expected to be a key catalyst to boost market sentiment. Citigroup expects Apple Inc. to continue outperforming the overall smartphone and PC market in the future. Merchant stated that Apple Inc. will maintain its leading position by expanding market share, strengthening product design competitiveness, and consolidating its position in the mid-range market through promotions and subsidy policies. In terms of profit margins, Merchant believes that rising component costs will still bring some pressure, but Apple Inc.'s pricing strategy is expected to largely offset the impact, resulting in limited profit margin impact. She predicts that Apple Inc. will raise prices for some products during the new generation iPhone release cycle in September, focusing on high-end models with stronger demand resilience. Additionally, Apple Inc. is expected to launch its first foldable screen product in the fourth quarter of this year, further enriching its product lineup. Regarding AI layout, Merchant predicts that the new version of Siri may adopt a tiered pricing model in the future, which will further enhance the revenue growth potential of Apple Inc.'s service business.