Bank of America Reiterates Buy on Apple (AAPL), Citing Services as Key Growth Driver

Apple Inc. (NASDAQ:AAPL) is one of the AI Stocks Analysts Are Watching Closely. One of the most notable analyst calls on August 18 was for Apple Inc. Bank of America reiterated the stock as “Buy” stating that it remains bullish on Apple Services.

“Services has been, and we expect will continue to be, the leading driver of y/y gross profit dollar growth. Reiterate Buy on stable cash flows, earnings resiliency and strong capital return program.”

Analysts on Wall Street currently have a consensus “Buy” rating on the stock. The average price target of $245 implies a 6.11% upside; however, the Street-high target of $275 implies an upside of 19.1%.

Apple (AAPL) Stock Outlook: Analysts See Upside to $275 on Services Momentum

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Apple is a technology company known for its consumer electronics, software, and services.

While we acknowledge the risk and potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AAPL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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