Apple Stock Rating Maintained as Carrier Incentives Boost Demand

BofA Securities has reaffirmed its Buy rating for Apple's stock and set a price target of $370.00, citing increased carrier incentives for iPhone purchases.

The bank notes that U.S. wireless carriers have raised the maximum trade-in credits for the iPhone 18 Pro Max to $1,200, up from $1,100 for the iPhone 17 Pro Max and $1,000 for the iPhone 16 Pro Max.

This move is largely offsetting Apple's higher pricing this year, making iPhones more affordable for customers.

The carrier financing programs bundle device financing with wireless service and spread payments over 36 months, improving affordability.