Apple Stock Target Raised to $320 by Bank of America
Bank of America has maintained its "Buy" rating on Apple and raised its price target to $320, citing strong iPhone 17 sales and long-term AI potential.
The analyst, Wamsi Mohan, expects the company to guide year-over-year revenue growth for its current quarter in the high single digits, driven by strength in sales of the iPhone 17 Pro and Pro Max.
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.
- Previous price target: $250
- New price target: $320
- Expected growth: 19.4% bump compared to the current $268
Author's summary: Bank of America raises Apple's stock target to $320.