Apple Stock Gets $320 Target from BofA Ahead of Q4 Earnings
Bank of America maintained its "Buy" rating on Apple and raised its price target, citing strong iPhone 17 sales and long-term AI potential.
Following last August's investor note, Bank of America Research analyst Wamsi Mohan warned against tempered iPhone 17 expectations. However, today's investor note had a more optimistic tone, as reported by CNBC.
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.
- Today's note also raises Apple's stock price target to $320, up from $250 in August.
- This would mean a 19.4% bump compared with the current $268.
Author's summary: Apple's stock target raised to $320 by BofA.