Bank of America raised its Apple price target to $380. The firm previously set a target of $330. Analyst Wamsi Mohan maintained a Buy rating for the company.
The bank expects Apple's artificial intelligence strategy to drive significant future growth. This outlook focuses on agentic AI, where the iPhone manages user tasks across various applications.
Apple’s custom silicon and iOS ecosystem provide a competitive advantage for AI assistants. A redesigned Siri acting as an AI agent could add billions of dollars to the company's top line.