---
title: "\"Big Banks\" Bank of America raises Apple’s target price to $320, expects quarterly revenue guidance to be high single-digit growth"
description: "Bank of America Securities raised its target price for Apple Inc. to $320, expecting a high single-digit growth in quarterly revenue guidance. The report pointed out that Apple's ecosystem, brand, and"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/263438868.md"
published_at: "2025-10-30T06:36:36.000Z"
---

# "Big Banks" Bank of America raises Apple’s target price to $320, expects quarterly revenue guidance to be high single-digit growth

> Bank of America Securities raised its target price for Apple Inc. to $320, expecting a high single-digit growth in quarterly revenue guidance. The report pointed out that Apple's ecosystem, brand, and large installed base still have competitive advantages. Analysts predict that Apple's annual revenue will reach $418 billion, with earnings per share of $7.41. The sales outlook for the iPhone 17 Pro and Pro Max is optimistic, with sales estimates raised to 57 million and 80 million units, respectively. Gross margin is forecasted to be 46.4% and 46.3%

Bank of America Securities report indicates that Apple's (AAPL.US) ecosystem, brand, and large installed base still constitute competitive advantages. The firm evaluates with a 5-year framework, forecasting the revenue trends of its products and services while considering potential new products and services that may be launched during this period. After analyzing the impact of artificial intelligence (AI) on Apple's revenue, the firm reiterated its "Buy" rating, based on strong capital returns, the eventual victory of edge AI, and the optionality value brought by new products and new markets. The firm raised its forecast for the company's full-year revenue and earnings per share for the period ending in September to $418 billion and $7.41, respectively, and increased the target price from $270 to $320, based on a projected price-to-earnings ratio of 32 times for the next fiscal year.

The firm is optimistic about the sales of the iPhone 17 Pro and Pro Max, raising the iPhone sales estimates for the last quarter and the current quarter to 57 million and 80 million units, respectively, compared to the market consensus of 54 million and 78 million units. The gross margin forecasts for the two quarters are expected to be 46.4% and 46.3%, with the company expected to guide for high single-digit year-on-year revenue growth for the current quarter

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.