It does until a point.
The “sweet spot” of the Standardised Academic Test scores for Ivy League is about 2300. Some schools even have lower acceptance rates near the 2400 range when compared to 2300, which surprised me!
2250-2350 is the range you want to be in. Try not to study hours a day for months to increase just 50 points to 2400. I got 2250 on December SAT but have to retake to get above 700 in reading (690, 800, 760) and am considering Schreyer, CMU, maybe Princeton.
Get at least 700 in all your subjects and definitely get above 2250 on SAT, especially for CIT, MIT, Stanford, and Harvard, but do not go for 2400. If you are below 2200, virtually nobody gets into the four aforementioned super schools, especially MIT and CIT.