Apple (AAPL) Stock: Bank of America Keeps Buy Rating as John Ternus Prepares to Replace Tim Cook
TLDR
- Apple (AAPL) traded around $317 on Aug. 20, up nearly 16% in 2026, with Bank of America holding a Buy rating and $380 price target
- Tim Cook hands the CEO role to hardware chief John Ternus on Sept. 1, ending a nearly 15-year tenure
- Bank of America expects Ternus to take more risk, including heavier R&D spending, more CapEx, and potentially bigger acquisitions
- Apple’s last quarter showed EPS of $2.02 and revenue of $109.42 billion, up 16.4% year-over-year
- Under Cook, Apple’s free cash flow more than quadrupled, and the stock delivered a 2,700% total return since 2011
Apple (AAPL) traded around $317 on Aug. 20, up nearly 16% in 2026, though still about 8% below its July record high of $344.57. The stock gained 4% over the two prior sessions as investors digest a leadership change that could reshape the company’s direction.
Tim Cook will step down as CEO on Sept. 1 and hand the role to John Ternus, Apple’s longtime hardware chief. Cook becomes executive chairman and stays involved in areas like government relations.
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