Apple unveiled the highly anticipated iPhone 15 during its ‘Wonderlust’ event in September, as reported by Getty Images.
Bank of America has identified Apple stock as a top choice for investors in 2024, predicting a potential 36% surge from the previous closing price.
The bank highlighted four upcoming catalysts for Apple this year, including the introduction of an AI-powered iPhone 16.
Despite concerns about weak demand, Bank of America believes that the stock price already accounts for this factor.
Bank of America reaffirmed its bullish outlook on Apple stock for 2024, projecting a 36% increase as the company prepares to launch an AI-enabled iPhone.
In a recent note, the bank reiterated its “Buy” rating and set a price target of $225 for Apple, stating that the stock price has already factored in the anticipated earnings growth challenges.
Bank of America analyst Wasmi Mohan emphasized that the stock’s current performance (-14% YTD) reflects the existing market conditions, with overall estimates for the year remaining stable.
2024-04-22 18:27:19
Source: finance.yahoo.com