Stocks
BofA Reiterates 'Buy' Rating on Apple Stock Amid AI Edge Opportunity
BofA Securities has reiterated its 'Buy' rating and $380 price target on Apple stock, citing the company's strong capital returns and potential to win in AI at the edge.
The firm noted that under outgoing CEO Tim Cook, Apple created market cap growth at a rate of roughly $32 million an hour for nearly 15 years, totaling $4.5 trillion overall.
BofA expects much of Apple's core to remain unchanged under incoming CEO John Ternus, who is expected to cement the company's device dominance in an AI-enabled era.