Analyst Wamsi Mohan of Bank of America Securities reiterated a Buy rating on Apple, retaining the price target of $270.00.
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Wamsi Mohan has given his Buy rating due to a combination of factors including the extended lead times for the iPhone 17, which indicate strong demand, particularly in China where a government subsidy is likely boosting sales. The iPhone 17’s ship dates are longer compared to last year’s model, suggesting higher consumer interest and potential for increased margins.
Additionally, the consistent lead times for the Pro and Pro Max models compared to the previous year further support the demand stability for Apple’s high-end products. Mohan also highlights Apple’s strong capital returns, potential advancements in AI technology, and opportunities in new markets as key reasons for maintaining a positive outlook on the stock.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $310.00 price target.