Bank of America maintains a $380 price target on Apple, betting on strong earnings growth and premium pricing for new iPhone models despite historical launch-day stock volatility.
Bank of America maintains a Buy rating and $380 price target for Apple, driven by expectations of premium iPhone 18 pricing and a new foldable model that could boost fiscal 2026 and 2027 earnings above consensus. While the stock historically faces short-term volatility around launch events, the firm's bullish outlook is anchored in long-term earnings growth and the successful integration of AI-driven hardware features under new CEO John Ternus.
Media reports cited in the Bank of America note suggest a price point of $2,099.
John Ternus, who took over on Sept. 1, faces his first major product event, with analysts viewing the launch as a critical test of his leadership and Apple's AI strategy.
Bank of America reiterates its Buy rating and $380 price target for Apple (AAPL) as the tech giant prepares for its latest product launch. Analyst Wamsi Mohan models fiscal 2026 revenue growth of 15% and earnings of $8.85 per share, banking on premium pricing for new models, including a potential foldable device.
The firm's outlook is based on long-term earnings growth projections that exceed consensus estimates, driven by premium pricing strategies for new iPhone models.