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2025-11-03 16:11:41
[Bank of America Securities Raises Apple's Target Price to $325] ⑴ Bank of America Securities released a research report maintaining an optimistic outlook for Apple's stock price next year, primarily based on better-than-expected iPhone upgrades and continued gross margin increases despite commodity headwinds. ⑵ Gross margin is expected to further improve in the second fiscal quarter ending March 2020, driven by the easing of tariff impacts and a shift in revenue structure towards services. ⑶ The report indicates that AI-driven Siri will launch next year, and a foldable iPhone is planned for release in September 2020. ⑷ The bank reiterated its "Buy" rating on Apple, based on its strong return on capital, competitive advantage in edge AI devices, and more new products and market opportunities. ⑸ The target price was raised from $320 to $325, equivalent to a 32x valuation of $10.11 per share in the next fiscal year. ⑹ The bank raised its revenue forecast for the company ending September 2026 from $457 billion to $460 billion, and its earnings per share forecast from $8.19 to $8.21. (7) The report also points out that the potential for an increase in the company's gross profit margin was partially offset by a significant increase in operating expenses, particularly R&D investment in the field of artificial intelligence.
