Apple: BofA raises TP
(CercleFinance.com) - Bank of America announced on Thursday that it had raised its target price for Apple shares from $230 to $256 (cp: $227.
5, -2.3%), while reiterating its buy recommendation on the stock.
In its study, the US broker said it was increasingly confident about the next renewal cycle for the iPhone installed base, which it considers to be aging, particularly with the arrival of new functionalities linked to generative AI.
According to its calculations, 29% of iPhone users still own an iPhone 13, 13% an iPhone 12 and over 31% an iPhone 11 or earlier generation.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
5, -2.3%), while reiterating its buy recommendation on the stock.
In its study, the US broker said it was increasingly confident about the next renewal cycle for the iPhone installed base, which it considers to be aging, particularly with the arrival of new functionalities linked to generative AI.
According to its calculations, 29% of iPhone users still own an iPhone 13, 13% an iPhone 12 and over 31% an iPhone 11 or earlier generation.
Copyright (c) 2024 CercleFinance.com. All rights reserved.