BofA Securities Raises Apple Price Target to $380

BofA Securities analyst Wamsi Mohan raised the price target on Apple (NASDAQ: AAPL) to $380.00 (from $330.00) while maintaining a Buy rating.

“In an agentic world, value accrues to the platform that controls user intent, personal context, app access, permissions, identity, authentication, payments, and trust.

Smartphone is the scaled consumer device where these factors already converge.

If AI assistants become the new front door to search, apps, commerce, scheduling, payments, and workflow completion, we think Apple should have meaningful leverage over model providers, app developers, merchants, advertisers, and payment networks.

We raise our PO to $380 on 37x our C27E EPS of $10.29 from $330 on 32x C27E of $10.29. We raise the multiple to account for the significant opportunity in agentic AI. Reiterate Buy rating.”

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