Apple shares close at record high on Siri AI optimism

Apple ↗ 2.04% shares closed at a record high on Wednesday, November 11, 2026. The stock rose 2.04% to finish at $355.63 after reaching $355.91 during the session, and it is now up 30.8% for the year, Bloomingbit reported. The gain followed a string of higher Wall Street price targets that center on Apple's push into consumer AI. Options traders also bet on more upside.en.bloomingbit.io

Wednesday's session topped the previous intraday record of $355.38, set on November 5. Apple had already logged three record closes in November before Wednesday, CNBC noted. Its market value is about $5.1 trillion, the largest of any U.S. company, and its 2026 gain is close to three times that of the S&P 500 ↗ 1.32%.cnbc.com

Analysts lift targets on Siri AI

Evercore ISI ↗ 1.11% raised its price target to $380 and kept its outperform rating, pointing to growth potential in Siri's AI features. Bernstein also moved to $380, up from $370, according to Bloomingbit. Evercore laid out possible ways to make money from Siri AI, including about $21 billion in yearly subscription revenue from 125 million accounts, Finbold reported. Evercore analyst Amit Daryanani called Apple "THE name to keep working when investors want to get defensive," MarketBeat reported.finbold.com+2

Other analysts were less upbeat. China Renaissance upgraded Apple to Buy with a $425 target. JPMorgan ↗ 0.39% cut its target to $355, and the average analyst target is still below the share price, Benzinga reported. DA Davidson raised its target to $295 from $270 but kept a neutral rating. The firm said growth in Apple's services business has not met expectations, Bloomingbit reported.en.bloomingbit.io+1

Options traders turn to calls

About 900,000 Apple options changed hands in the first half of Wednesday's session, including nearly 500,000 calls and 370,000 puts, CNBC reported. Traders had bought puts before the company's earnings report. As the stock recovered, the put/call open-interest ratio dropped from 0.95 to 0.87. CNBC said the stock had held up through last week's biggest tech selloff since the Covid era and a bear market in chip stocks.cnbc.com

A broader market rebound

Apple's gain came as the broader market bounced back. Investor's Business Daily News Corp ↗ 0.40% described Wednesday as a "follow-through day," with the Nasdaq Composite up about 400 points. Investors were also weighing Apple's $7.5 billion bond sale, which drew about $31 billion in peak orders and could help pay for share buybacks, Benzinga reported. Benzinga also cited Apple's launch of Apple Intelligence in China in beta.investors.com+1