BofA Securities Reiterates Buy Rating on Apple, $325 Price Target

BofA Securities analyst Wamsi Mohan reiterated a Buy rating and $325.00 price target on Apple (NASDAQ: AAPL).

“The timing of the leadership transition to us suggests that 1) near-term results are extremely resilient given that Apple will likely plan such changes from a position of strong business momentum and 2) a product-oriented leader with years of deep experience in Apple’s hardware design suggests we might be entering a new era of devices (AI-enabled, wearable form factors including AR glasses, smart home devices).

2027 could be a big product year (20th anniversary of iPhone) and we expect the transition to be smooth as other senior leadership changes at Apple have been in the past (CFO, COO etc). We also see Mr.

Tim Cook remaining as executive chairman & continue engaging with policymakers around the world as a positive during the transition.

While there is no good time for such a transition, Tim Cook has led Apple to focus on Services, broadened the product portfolio, and focused on health and privacy.

This in turn has driven massive shareholder returns under Cook’s tenure making Apple a $4 trillion market cap company. Maintain Buy.”

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