BofA raised the firm’s price target on Apple (AAPL) to $320 from $270 and keeps a Buy rating on the shares. The firm cites its new five-year outlook for the target increase. Apple’s earnings could double from 2024 to 2030 due to sustained growth from its new products and services, the analyst tells investors in a research note. BofA rolled the stock’s valuation to fiscal 2027 and has more confidence in Apple’s estimates due to its five-year analysis. The firm sees the company as an “eventual winner” in artificial intelligence.
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