Apple's App Store Revenue Surge and iPhone Upgrades Set to Drive Growth in 2025: BofA Analyst

Quick Summary:

The rating reflected the expected strong iPhone upgrade cycle in fiscal 2025 driven by the need for the latest hardware to enable generative artificial intelligence features, higher growth in Services revenue, higher margins from more internally developed silicon, continuing capital returns, and AI features that can drive higher institutional ownership.

Piper Sandler analyst Harsh Kumar maintained Apple Inc (NASDAQ:AAPL) with a Neutral and raised the price target from $190 to $225.

BofA Securities analyst Wamsi Mohan reiterated a Buy rating on Apple with a price target of $230.

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Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United StatesChina

Topics: AAPL Stories That Matter Briefs Equities Analyst Color Expert Ideas Price Target Analyst Ratings US0378331005 Reiteration News Benzinga Tech Trading Ideas

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-09 @ 18:06:04 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 358 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21557102

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