Apple stock target raised at Needham on ads business strength, buyback plan

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Go back to Apple stock target raised at Needham on ads business strength, buyback plan

Apple stock target raised at BofA on iPhone 16 expectations

July 11, 2024 10:15 AM EDT

Bank of America raised its price target for Apple (NASDAQ: AAPL) to $256, up from $230 in a note to clients Thursday, driven by increased confidence in a multi-year iPhone upgrade cycle.

This upward revision is supported by the findings of a comprehensive global smartphone survey and an analysis of Apple's aging installed base, which BofA says suggests significant upside potential.

"We are raising our PO on Apple... More