Stocks
Apple Stock Tumbles Amid BofA Price Target Cut to $370
Apple stock is trading at EUR 297.05 on September 29, 2026, after BofA Securities cut its price target from USD 380.00 to USD 370.00 while maintaining a Buy rating.
The bank cited lower-than-expected pricing for new iPhones and higher memory and component costs as factors that could pressure gross margins.
Apple's fiscal Q3 revenue was USD 109.42 billion, up 16.00 percent year over year, with iPhone revenue rising 22.00 percent to USD 54.30 billion.
The launch of new iPhones is crucial for Apple, as it sets the next test for product demand and potential growth.
Apple's next earnings date is October 29, 2026, which will give investors a clearer picture of whether new iPhone demand can offset component-cost pressure.