Bank of America analyst Analyst Wamsi Mohan maintained his “Buy” rating on Apple in a new investor note, just ahead of this afternoon’s fiscal Q4 earnings report from the iPhone maker. Mohan also raised Apple’s stock price target to $320, up from $250 in August. The bank cited strong iPhone 17 sales, as well as long-term AI potential for the move.
Wednesday’s investor note had an optimistic tone, reports 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.
Bank of America’s Apple stock price target of $320 is a 19.4% jump when compared with the current $268.22 stock price.
Mohan said he saw stronger demand for the iPhone 17 and iPhone 17 Pro than he had anticipated, while also citing AI as a major driver behind the new price target. Wohan believes the company will eventually become a leader in the field:
“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).”
Apple’s stock is up 10% overall in 2025, recovering from a steep drop in April amid uncertainty over the start of Trump’s tariff/trade war. Since hitting a low of $174, the stock has climbed 56% to date.
