Bank of America Says Apple Stock Could Surge 14% From Here

Bank of America is staying bullish on Apple stock. The firm reiterated its Buy rating on July 30. It also held its $380 price target, putting Apple’s stock roughly 14% above its $333.43 close that day. The apple stock Bank of America case leans on tight iPhone supply, a stronger Apple AI growth story, and an apple earnings report that beat estimates once you strip out a one-time tariff refund.

Also Read: SpaceX Beat Wall Street, Yet the Bear Case Just Got Stronger

Apple Stock Bank Of America Outlook Highlights AI And Growth Potential

Analyst Wamsi Mohan built his updated apple stock forecast around one core idea: Apple’s guidance reflects what it can build, not what people want to buy.

Supply, Not Demand, Is Driving Apple’s Guidance

Apple’s fiscal third-quarter earnings report showed $109.4 billion in revenue, up 16% year over year, with EPS of $2.02. Bank of America flagged that about $0.11 of that came from a one-time tariff refund. So, earnings landed roughly in line with estimates once you back that out. September quarter guidance of 9% to 11% revenue growth came in below the roughly 12% analysts had modeled.

… Continue reading the full article at the original source below.