Bank of America Maintains Buy Rating on Apple Amid iPhone Launch
On Sept. 8, 2026, Bank of America reiterated its 'Buy' rating and $380 price target for Apple (AAPL), despite the stock closing at $316.22 with a market cap near $4.61 trillion. The firm's analysis focused on expected earnings growth rather than immediate reactions to Apple’s product launch event, which historically has shown mixed short-term impacts but stronger long-term recovery trends in AAPL shares. Analyst Wamsi Mohan highlighted the anticipated iPhone 18 lineup and a potential foldable model priced at $2,099. Bank of America projected fiscal year 2026 revenue to reach $477 billion with earnings per share rising by nearly 19% in FY2026 and further growth expected into FY2027. The firm’s estimates suggest Apple must outperform consensus expectations for the rating to hold. The $380 target implies a forward multiple of about 37 times calendar year 2027 earnings, above historical averages but in line with investor optimism around long-term growth potential.
Topics: Apple stock Bank of America analysis iPhone launch event stock performance