Apple (NASDAQ:AAPL) Receives “Buy” Rating from Bank of America

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by Bank of America in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $370.00 target price on the iPhone maker’s stock. Bank of America‘s price objective would indicate a potential upside of 9.81% from the stock’s current price.

A number of other equities research analysts also recently issued reports on AAPL. Rothschild & Co Redburn set a $400.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Monday, August 17th. Weiss Ratings downgraded Apple from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Robert W. Baird lifted their price objective on Apple from $310.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Sanford C. Bernstein boosted their target price on Apple from $350.00 to $370.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Loop Capital set a $380.00 target price on Apple in a research report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $340.14.

Apple Price Performance

Shares of AAPL traded down $2.79 during trading hours on Wednesday, reaching $336.96. The company had a trading volume of 14,270,072 shares, compared to its average volume of 49,591,902. The firm has a 50 day simple moving average of $321.17 and a 200-day simple moving average of $295.97. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $4.92 trillion, a price-to-earnings ratio of 38.66, a PEG ratio of 2.94 and a beta of 1.08. Apple has a 12-month low of $243.42 and a 12-month high of $345.34.

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

Insider Buying and Selling

In other Apple news, SVP Jennifer Newstead sold 1,438 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $330.19, for a total transaction of $474,813.22. Following the completion of the transaction, the senior vice president owned 32,914 shares of the company’s stock, valued at approximately $10,867,873.66. This trade represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 8,632 shares of company stock worth $2,719,955. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Apple

Large investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Apple by 4.7% in 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 purchasing an additional 28,321,085 shares during the last quarter. Berkshire Hathaway Inc purchased a new position in shares of Apple in the 2nd quarter worth $65,950,297,000. Bank of America Corp DE acquired a new position in Apple in the second quarter valued at $36,986,090,000. Legal & General Group Plc purchased a new stake in Apple during the second quarter valued at about $30,443,242,000. Finally, Nuveen LLC grew its position in Apple by 3.8% during the fourth quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker’s stock valued at $20,389,750,000 after acquiring an additional 2,725,121 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Early demand for the iPhone 18 Pro appears resilient: shipping wait times remain close to last year’s levels despite substantial price increases, suggesting customers may be accepting higher prices. Apple iPhone 18 Pro Wait Times Stay Near Last Year’s Levels Despite Higher Prices
• Positive Sentiment: Apple’s new M6 Mac mini and M5 Mac Studio are being marketed as lower-cost alternatives to cloud data-center computing for local AI workloads. The strategy could expand Mac demand and position Apple as a beneficiary of efforts to reduce AI infrastructure costs. With new Macs, Apple aims to take on Microsoft and Nvidia in a rush to lower AI costs
• Positive Sentiment: The iPhone Duo foldable launch, continued iPhone demand and reports of potential health-wearable products have supported Apple’s recent rally. A screenless fitness tracker could broaden Apple’s wearable ecosystem, although any commercial launch appears years away. Apple Considers Screenless Fitness Tracker to Expand Wearable Lineup Beyond Smartwatches
• Neutral Sentiment: Apple briefly crossed the $5 trillion market-capitalization threshold after reaching an intraday record, reinforcing bullish sentiment but also increasing the likelihood of profit-taking near all-time highs. Apple stock flirts with $5T again
• Negative Sentiment: Wednesday’s weakness reflects broader risk-off pressure affecting large-cap technology and growth stocks, while investors may be locking in gains after Apple’s sharp 2026 advance. Apple’s valuation remains demanding, with a reported P/E near 39, leaving less room for disappointment. What Is Going on with Apple Stock on Wednesday?
• Negative Sentiment: Qualcomm’s new AI-focused Snapdragon chips intensify competition with Apple’s premium iPhone processors, particularly around on-device AI performance. That could raise concerns about Apple’s ability to maintain its technology and pricing advantage. Qualcomm Comes For Apple’s A20 Pro With New AI-First Snapdragon Chips

About Apple

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company’s ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.