New $380 Bank of America AAPL target puts AI in the spotlight
Bank of America just gave Apple one of Wall Street’s most aggressive price targets yet after betting that AI could become the company’s next major growth engine, rather than just another iPhone feature.
Apple IntelligenceThe firm raised its Apple price target to $380 from $330 on Tuesday, arguing that “agentic AI” could become a major long-term revenue driver for the company. Bank of America believes Wall Street continues to underestimate Apple’s AI revenue potential across its ecosystem.
Bank of America had previously trimmed its Apple target to $320 in March 2026 over concerns tied to staggered iPhone launch timing and shifting revenue seasonality. The firm maintained a Buy rating at the time and continued to argue AI would remain a major long-term growth driver for Apple.
Bank of America analyst Wamsi Mohan kept a Buy rating on Apple stock and laid out a bullish case for the company’s AI strategy. The note argued Apple could generate far more revenue from AI services than investors currently expect.
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