As Apple Inc. (NASDAQ: AAPL) stock regained bullish momentum over the past 30 days through September 17 – fueled by its strong fiscal results, key leadership updates, and the unveiling of its latest product lineup – Wamsi Mohan, a Wall Street analyst at Bank of America Corp. (NYSE: BAC), expects a rally towards a new all-time high (ATH) over the next 12 months.
Mohan reiterated a ‘Buy’ rating for Apple stock and reaffirmed the bank’s 12-month price target for AAPL at $370. With AAPL stock trading at $334.28 on Thursday, BofA signals a potential 10.69% upside.
This firm reiterated a bullish outlook for Apple stock over the next 12 months driven by the aggressive promotions from U.S. wireless carriers, which effectively neutralize higher device pricing and catalyze iPhone sales.
Mohan highlighted that maximum trade-in allowances have expanded up to $1,200 for the iPhone 18 Pro Max. This is paired with flexible 36-month financing structures and remarkably lenient condition requirements across AT&T Inc. (NYSE: T), Verizon Communications Inc. (NYSE: VZ), and T-Mobile US, Inc. (NASDAQ: TMUS).
Beyond immediate hardware dynamics, BofA argued that Apple stock presents an exceptional long-term investment profile grounded in the company’s disciplined financial execution and structural technology advantages.
The analyst’s note added that the company’s massive capital return program continuously enhances shareholder value, while its strategic positioning ensures market leadership in deploying on-device AI capabilities directly at the edge.
Coupled with unexploited optionality across upcoming product categories and expansion markets, he believes that Apple remains uniquely capitalized to drive sustained earnings growth and outperform market expectations.
Is Apple a good stock to buy?
At the time of writing, 32 Wall Street analysts surveyed by TipRanks over the past three months, have set an average rating of ‘Moderate Buy’ for Apple stock. Additionally, these analysts have an average target for the next 12 months of $336.26, suggesting a possible rally to a new ATH.
The highest 12-month price target for AAPL from the sampled analysts is $400, while the lowest is $245.
AAPL price performance
Over the past 12 months, AAPL’s price has rallied 40.54%. As a result, the company’s market capitalization is hovering at $4.9 trillion at the time of publication.
If AAPL’s price continues with its 12-month established uptrend, largely influenced by the artificial intelligence (AI) boom, these bullish targets could be achieved.
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