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<Research>BofAS Reaffirms Buy on Apple, Raises TP to US$325
Recommend 2 Positive 6 Negative 1 |
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BofA Securities released a report expressing bullishness about Apple's (AAPL.US) stock price for 2026. The report cited better-than-expected iPhone smartphone upgrades and higher gross margins despite product headwinds. Gross margins for the fiscal quarter ending next March are expected to further improve due to subsided tariff impacts and a revenue mix shift towards Services. Besides, AI-driven Siri is set to launch in 2026, along with a foldable iPhone in September. The broker reaffirmed its Buy rating on Apple, given strong capital returns, eventual winner on AI at the edge and optionality from new products/ markets. The target price was raised from US$320 to US$325, reflecting the 32x 2027E EPS of US$10.11. BofA Securities also revised up its revenue and EPS forecasts for the current fiscal year ending September 2026, from US$457 billion and US$8.19 to US$460 billion and US$8.21, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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