"Big Banks" Bank of America adjusts its forecast for Apple, expecting multiple favorable factors in 2026

AASTOCKS
2026.02.02 04:18

Bank of America Securities published a research report indicating that it believes Apple's (AAPL.US) iPhone upgrade performance will exceed expectations. Despite facing headwinds from rising commodity prices, the company's gross margin continues to climb. Additionally, the AI technology-equipped Siri is set to launch in 2026, and the foldable iPhone is expected to be released in September 2026, with the installed base of devices reaching a new high. Therefore, the outlook for the company's performance in 2026 is optimistic.

The firm stated that based on Apple's strong capital returns, its dominance in the AI field, and opportunities from new products or markets, it reaffirms its "Buy" rating and maintains a target price of $325. However, the firm has raised its revenue forecast for the fiscal year ending September 2026 from $463 billion to $475 billion, and also increased its earnings per share estimate from $8.26 to $8.51

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