Apple (NASDAQ: AAPL) has received a new bullish nod from Bank of America, projecting that the stock is likely to rally past the $300 mark in the coming year.
Notably, the bank’s analyst Wamsi Mohan reaffirmed a ‘Buy’ rating while lifting the price target to $325 from $320, signaling an expected upside of about 25% from the current price of $259.
The revision comes as the bank pointed to sustained strength in iPhone demand, with March quarter unit estimates raised to 60 million.
This resilience in Apple’s flagship product continues to support broader revenue growth, now projected to expand roughly 18% year over year, exceeding the company’s prior guidance range of 13% to 16%.
Notably, the technology firm has emerged as the leading player in the global smartphone market in Q1 2026 with a 21% share and 5% year-over-year growth, driven by strong iPhone 17 demand and improved supply chain execution in China, India, and Japan.
Services remain another key pillar of growth, with revenue in the segment expected to rise around 14% annually.
While App Store performance has been relatively modest, overall services momentum continues to support higher-margin expansion, with gross margins estimated near 48.2%. However, some sequential margin pressure is anticipated in the June quarter due to product mix and component cost dynamics.
Apple stock earnings
Mohan expects Apple to beat Wall Street estimates for the March quarter, with revenue around $113 billion and EPS near $2.
The following quarter is also projected to come in above consensus, reinforcing near-term confidence.
He sees further upside driven by upcoming catalysts, including the company’s June developer conference, potential product launches such as a foldable iPhone, and deeper AI integration with enhanced Siri capabilities, alongside a possible new share buyback.
Risks remain from softer App Store growth and near-term margin pressure, but overall sentiment stays positive, supported by strong demand and multiple growth drivers.
Wall Street bullish on Apple stock
Overall, Wall Street analysts are maintaining a constructive outlook on Apple, with a consensus ‘Moderate Buy’ rating over the next 12 months. According to TipRanks data, the average price target stands at $305.10, implying roughly 17.7% upside from the current trading level, based on 23 analyst ratings.
Of those analysts, 14 recommend buying, eight suggest holding, and one advises selling, reflecting steady confidence in the company’s fundamentals despite a mixed macro environment.
The bullish case sees shares reaching as high as $350, while the bearish estimate places the stock at $248 over the same period.
