Bank of America raises Apple price target
Bank of America is bullish on Apple ahead of its Thursday earnings report. Analyst Wamsi Mohan reiterated his buy rating on the iPhone maker and lifted his price objective to $320 per share from $270. Mohan’s updated target implies a 19% upside for the stock. Mohan said that despite the company’s large size, it is poised for sustained growth over the long term. AAPL YTD mountain AAPL YTD chart Mohan pointed out that Apple is a beneficiary of the artificial intelligence trade, and eventually sees it emerging as a leader. Meanwhile, the company’s current brand, ecosystem and base gives it an ongoing competitive advantage. “We consider the impact of Artificial Intelligence (AI) on Apple’s revenues, enhancing potential new product offerings (AI augmented eye-wear, in-house AI robots/smart home), while potentially being disruptive in other cases (AI impact on traditional search revenues),” Mohan wrote. “Reiterate Buy on strong capital returns, eventual winner in AI at the edge & optionality from new products/markets.” The analyst believes that Apple’s earnings per share could more than double in the next six years. Heading into the company’s fiscal fourth-quarter earnings release on Thursday, Mohan sees strength in sales of the iPhone 17 Pro and Pro Max and raised his iPhone unit estimates. The analyst expects the company to guide year-over-year revenue growth for its current quarter in the high single digits. Apple shares are up 7% this year. Most analysts are bullish the iPhone maker. LSEG data shows that 33 of 51 who cover the stock rate it a buy or strong buy. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
<
