Bank of America Securities analyst Wamsi Mohan reiterated a Buy rating on Apple today and set a price target of $270.00.
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Wamsi Mohan has given his Buy rating due to a combination of factors including the strong performance of Apple’s App Store and the promising growth in its services segment. The App Store revenue saw a significant increase of 10% year-over-year in the fourth fiscal quarter of 2025, with a notable rise in dollars per download. This growth is supported by a shift in revenue mix away from games towards productivity and other non-gaming categories, which is expected to provide a long-term boost to Apple’s revenue.
Moreover, Apple’s potential in AI at the edge and the optionality from new products and markets contribute to the positive outlook. The proliferation of AI search applications, which are gaining daily active user share, further enhances this perspective. Additionally, the services revenue is projected to grow by 14% year-over-year, reinforcing the Buy rating with a price objective of $270, based on a 32 times estimated earnings per share for 2026.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $298.00 price target.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year.