🔼Apple $AAPL upgraded to Buy from Neutral at Rothschild & Co Redburn Rothschild & Co Redburn analyst Timm Schulze-Melander upgraded Apple to Buy from Neutral with a price target of $400, up from $260. The firm sees iPhone sales growing at 12% annually, or up to 14% above consensus expectations, through fiscal 2030, led by Apple's entry into the premium foldable market with the launch of the iPhone Ultra. Stronger than consensus iPhone earnings and a "strategic reset" to Apple Intelligence leave Rothschild's estimates 18% above fiscal 2030 consensus. It has confidence that Apple's relative valuation multiple is "well supported." The firm believes Apple may be able to "assert itself as the gatekeeper of consumer AI, delegating AI workloads to a subservient fleet of open-source models, monetized via Apple Pay and other payment platforms."