Jan. 12 at 8:27 PM
Bank of America said Apple is heading into its fiscal first-quarter earnings with a bullish setup, citing stronger-than-expected iPhone demand, double-digit Services growth, and multiple product catalysts later in the year. The firm reiterated a Buy rating and a
$325 price target, seeing upside to consensus expectations ahead of Apple’s Jan. 29 earnings report.
Analysts led by Wamsi Mohan forecast revenue of
$140 billion and EPS of
$2.69, slightly above market estimates, implying 13% year-over-year revenue growth—above Apple’s guidance range. BofA highlighted resilient iPhone demand, ongoing double-digit Services growth despite App Store weakness in China, and improving margins driven by a higher Services mix.
Looking ahead, key catalysts include a potential foldable iPhone launch and an AI-enhanced Siri, which could drive upgrades.
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