Apple: BofA raises its price target

(CercleFinance.com) - Bank of America announced on Thursday that it had raised its price target for Apple from $230 to $256, while reiterating its buy recommendation on the stock.


In its study, the American broker says it is 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.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.