Apple’s AI Roadmap, Product Launch Support BofA Buy Rating, Target Raised to $270

Apple Inc. (NASDAQ:AAPL) is one of the best ESG stocks to buy now according to hedge funds. On September 10, Bank of America Securities analyst Wamsi Mohan reiterated a Buy rating on Apple (NASDAQ:AAPL) and raised the firm’s price target to $270 from $260.

Apple’s AI Roadmap, Product Launch Support BofA Buy Rating, Target Raised to $270

Photo by Philipp Düsel on Unsplash

Mohan pointed to Apple’s latest iPhone launch event as a catalyst, highlighting upgrades such as enhanced health monitoring, improved cameras, and new AI-powered features. The analyst emphasized that Apple Inc.’s (NASDAQ:AAPL) silicon and AI hardware roadmap strengthens its ability to deliver AI at the edge, while higher base storage and the rollout of in-house modem and networking chips support better gross margin.

With updated products such as the iPhone, Apple Watch, and AirPods, Apple Inc. (NASDAQ:AAPL) is well-positioned to benefit from the growing demand for connected devices. Mohan also raised his earnings forecasts along with the higher target, reflecting confidence in the company’s growth outlook.

Apple Inc. (NASDAQ:AAPL) designs, manufactures, and markets innovative products, including the iPhone, iPad, Mac computers, Apple Watch, and Apple TV. The company also offers a range of software and services, such as the iOS and macOS operating systems, iCloud, advertising, payment services, Apple Music, and the App Store.

While we acknowledge the potential of AAPL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AAPL and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.