Citi raised its price target for Apple to $365 from $315, citing the company's strong market position and recent pricing actions. Shares of Apple rose 1.1% on Monday, outperforming a broader market that declined amid geopolitical tensions and rising oil prices.

The bank attributed its bullish outlook to Apple’s strategic price increases on several MacBook and iPad models, which Citi said were implemented to offset rising memory costs. Citi also stated that Apple remains well positioned to gain market share despite broader economic headwinds.

Separately, Apple filed a lawsuit against OpenAI on Friday alleging trade secret theft. OpenAI is an American artificial intelligence research organization headquartered in San Francisco that develops generative AI models, particularly the GPT series of large language models.

Television host Jim Cramer described Apple’s legal action as “a serious lawsuit with legit concerns.” In his morning note, Cramer advised investors to “own, don’t trade this one” regarding Apple stock. Cramer, whose Charitable Trust holds long positions in AAPL, INTC, and NVDA, also argued in a Sunday column that the technology sector continues to offer some of the market’s strongest earnings growth and is best positioned to capitalize on the artificial intelligence boom.

Portfolio Director Jeff Marks stated that Jim Cramer remains bullish on the technology sector. Marks added that he does not have a view on the legal merits of Apple's lawsuit against OpenAI. Marks also argued against Nvidia taking profits in its Intel stake, stating it could unnecessarily pressure Intel shares.

While semiconductor stocks led Monday’s market decline as traders took profits following the sector’s recent rally, the CNBC Investing Club added to its Intel position on the same day. West Texas Intermediate crude climbed about 4% to roughly $74 a barrel on Monday, as investors weighed renewed airstrikes between the United States and Iran alongside the start of a busy earnings week.

Why It Matters

Apple’s legal move against OpenAI marks a significant escalation in tensions between major tech firms over intellectual property in the rapidly evolving AI sector. Citi’s price target increase reflects confidence in Apple’s ability to maintain premium pricing power and expand its market position even as it navigates supply chain cost pressures and intensifying competition in AI-driven devices.

Cramer’s public endorsement and investment stance reinforce the market narrative that leading technology companies remain central to long-term growth strategies, particularly in artificial intelligence. His trading protocols—waiting 45 minutes after a trade alert before executing in his charitable trust, or 72 hours after discussing a stock on CNBC TV—underscore measures intended to avoid conflicts of interest while maintaining active portfolio management.