Bank of America Raises Apple Price Target to $320 on AI Potential and iPhone 17 Demand

• Apple’s iPhone 17 models show robust demand, particularly for Pro variants, boosting shipment estimates.

• Analysts expect high single-digit revenue growth in the upcoming quarter amid AI advancements.

• Apple’s stock has risen 7% year-to-date, with 33 of 51 analysts recommending buy or strong buy ratings, per industry data.

Discover Bank of America’s updated Apple price target of $320 and insights into iPhone demand trends. Explore AI growth potential for AAPL stock ahead of earnings—read now for investment analysis.

What is Bank of America’s latest price target for Apple stock?

Apple price target from Bank of America stands at $320, up from the previous $270, as reaffirmed by analyst Wamsi Mohan in a recent note. This buy rating highlights Apple’s positioning for sustained growth despite competitive pressures. Mohan emphasizes the company’s scale, brand strength, and vast ecosystem as key drivers for long-term success in evolving markets.

How will artificial intelligence impact Apple’s future revenues?

Artificial intelligence represents a significant opportunity for Apple, potentially enhancing revenues through innovative products like AI-augmented eyewear and in-house smart home devices. Analyst Wamsi Mohan notes that while AI could disrupt traditional search revenues, Apple’s advantages in edge computing position it as a leader. He projects earnings per share to more than double over the next six years, supported by strong capital returns and new market options. Industry experts agree that Apple’s user base of over 2 billion active devices provides a solid foundation for AI integration, with early adoption trends showing promise in consumer tech segments.

Frequently Asked Questions

What factors are driving the raised Apple price target?

The updated $320 Apple price target reflects optimism around iPhone demand, AI leadership, and ecosystem expansion. Bank of America’s analysis points to resilient sales in key models and potential super-cycle growth, with revenue guidance expected in the high single digits for the current quarter, based on shipment projections.

Is the iPhone 17 lineup entering a super-cycle?

Yes, the iPhone 17 lineup appears poised for a super-cycle, marking the first year-over-year revenue increase since peaking in fiscal 2022. Strong demand for base and Pro models, featuring advanced chips and displays, supports this outlook, with Wall Street estimates forecasting fiscal 2025 highs driven by global adoption.

Key Takeaways

• Upside Potential: The $320 target implies 19% growth from current trading levels, underscoring Apple’s resilience in competitive tech landscapes.
• AI Leadership: Apple’s edge in AI applications could revolutionize products and services, backed by its ecosystem and user loyalty.
• Demand Shifts: While Pro models thrive, adjustments in iPhone Air production highlight the need for targeted manufacturing to match market preferences.

Conclusion

As Apple approaches its fiscal fourth-quarter earnings, the raised Apple price target to $320 by Bank of America underscores the company’s robust prospects in AI and iPhone innovation. With strong demand for flagship models and strategic adjustments addressing underperformers like the iPhone Air, Apple remains a top pick among analysts. Investors should monitor earnings for confirmation of these trends, positioning for continued growth in the dynamic tech sector.