Apple: BofA still a buyer after iPhone 16
(CercleFinance.com) - On Thursday Bank of America renewed its buy recommendation on Apple shares, along with its and $265 target price, the day after the company unveiled a new entry-level iPhone.
The investment bank explains that the iPhone 16e will start at $599 and will be equipped with the first cellular modem designed by the American technology giant, dubbed the 'C1'.
Since the iPhone 16e shares a large number of features with its predecessor, the iPhone 16, BofA fears a possible 'cannibalization' between the two devices from the Californian group.
However, the New York broker believes that Apple's switch to the use of in-house components such as the C1 should enable it to improve its profit margins over time.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
The investment bank explains that the iPhone 16e will start at $599 and will be equipped with the first cellular modem designed by the American technology giant, dubbed the 'C1'.
Since the iPhone 16e shares a large number of features with its predecessor, the iPhone 16, BofA fears a possible 'cannibalization' between the two devices from the Californian group.
However, the New York broker believes that Apple's switch to the use of in-house components such as the C1 should enable it to improve its profit margins over time.
Copyright (c) 2025 CercleFinance.com. All rights reserved.