Bank of America Reaffirms Buy Rating for Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by equities research analysts at Bank of America in a report issued on Wednesday, September 23rd, Benzinga reports. They presently have a $370.00 price target on the iPhone maker’s stock. Bank of America‘s target price would indicate a potential upside of 11.10% from the company’s current price.

A number of other equities research analysts also recently weighed in on AAPL. Wedbush reiterated an “outperform” rating and issued a $400.00 target price on shares of Apple in a report on Friday, June 5th. Daiwa Securities Group lifted their target price on Apple from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Sanford C. Bernstein lifted their target price on Apple from $350.00 to $370.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Piper Sandler assumed coverage on Apple in a research note on Monday, August 17th. They issued an “overweight” rating for the company. Finally, HSBC reissued a “buy” rating and issued a $366.00 price objective on shares of Apple in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.14.

Apple Trading Up 1.1%

Apple stock traded up $3.62 during trading hours on Wednesday, hitting $333.02. The stock had a trading volume of 49,024,806 shares, compared to its average volume of 49,179,719. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock has a market cap of $4.86 trillion, a price-to-earnings ratio of 38.19, a P/E/G ratio of 2.94 and a beta of 1.08. Apple has a one year low of $243.42 and a one year high of $345.34. The business’s 50 day simple moving average is $321.83 and its 200-day simple moving average is $298.67.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same period last year, the company earned $1.57 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. On average, equities analysts predict that Apple will post 8.74 EPS for the current fiscal year.

Insider Activity

In other news, SVP Jennifer Newstead sold 2,399 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total value of $815,803.94. Following the completion of the transaction, the senior vice president directly owned 44,391 shares in the company, valued at approximately $15,095,603.46. This represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 11,031 shares of company stock valued at $3,535,759. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apple

Several institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in Apple by 4.7% during the 2nd quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker’s stock valued at $182,897,769,000 after acquiring an additional 28,321,085 shares during the period. Berkshire Hathaway Inc bought a new position in shares of Apple in the 2nd quarter worth approximately $65,950,297,000. Bank of America Corp DE purchased a new stake in shares of Apple in the 2nd quarter worth approximately $36,986,090,000. Legal & General Group Plc purchased a new stake in shares of Apple in the 2nd quarter worth approximately $30,443,242,000. Finally, Nuveen LLC grew its stake in shares of Apple by 3.8% in the 4th quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker’s stock worth $20,389,750,000 after buying an additional 2,725,121 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Counterpoint Research estimates Apple could sell approximately 6 million iPhone Duo foldables in 2026. The device, priced from $1,999, is expected to open for preorders on October 16 and launch October 23, creating a potential high-margin growth opportunity. Apple stock is rising today: here’s why
• Positive Sentiment: Counterpoint also reported that iPhone 18 Pro series sales in China rose 12% year over year during launch week, giving Apple a 33% share of the country’s smartphone market. The results support the company’s premium-device strategy and could improve revenue expectations. Apple iPhone 18 Pro China Launch-Week Sales Rise 12%
• Positive Sentiment: Reports that Apple will unveil a new smart-home hub at an October 13 event broaden the company’s potential product ecosystem beyond iPhones and Macs. UBS also said iPhone 18 Pro and Pro Max wait times remain relatively steady, suggesting demand has not materially weakened. Apple stock pops on smart home hub report
• Positive Sentiment: Cooler-than-expected inflation data reduced concerns about near-term Federal Reserve rate hikes, supporting technology and growth stocks broadly, including Apple. U.S. stocks rise as softer inflation eases rate fears
• Neutral Sentiment: New CEO John Ternus is reportedly considering an engineering-led restructuring, fewer management layers, and more frequent product launches. The changes could accelerate innovation, but execution and transition risks remain. Apple’s new CEO moves to overhaul company
• Negative Sentiment: Bank of America warned that Meta’s Muse AI agent could divert shopping, search, and transaction activity away from Apple’s ecosystem, potentially pressuring services revenue, Apple Pay, and Siri’s strategic importance. Apple faces a new threat from Meta’s Muse
• Negative Sentiment: Apple’s emergency software patch for a zero-day vulnerability affecting iPhone users highlights ongoing cybersecurity risks, while a UK marketplace class action adds legal uncertainty. Apple patches zero-day flaw

About Apple

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple’s services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.