Apple (NASDAQ:AAPL) Given Buy Rating at Bank of America

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by investment analysts at Bank of America in a research note issued to investors on Thursday, September 17th, Benzinga reports. They presently have a $370.00 price objective on the iPhone maker’s stock. Bank of America‘s target price suggests a potential upside of 10.15% from the company’s previous close.

Several other research firms also recently weighed in on AAPL. Citic Securities boosted their target price on Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. Citigroup reaffirmed a “buy” rating on shares of Apple in a research note on Thursday, September 10th. Deutsche Bank Aktiengesellschaft cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. Wells Fargo & Company restated an “overweight” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Friday, July 31st. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Apple in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.14.

Apple Price Performance

Apple stock traded down $1.10 during mid-day trading on Thursday, reaching $335.92. 24,380,295 shares of the company’s stock traded hands, compared to its average volume of 41,897,800. The company has a market cap of $4.90 trillion, a price-to-earnings ratio of 39.46, a PEG ratio of 2.95 and a beta of 1.08. The stock has a 50 day moving average of $321.41 and a two-hundred day moving average of $297.07. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple has a 12-month low of $243.42 and a 12-month high of $345.34.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter last year, the firm earned $1.57 EPS. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities analysts forecast that Apple will post 8.74 earnings per share for the current year.

Insider Transactions at Apple

In related news, SVP Jennifer Newstead sold 2,399 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total value of $815,803.94. Following the completion of the transaction, the senior vice president owned 44,391 shares of the company’s stock, valued at $15,095,603.46. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 11,031 shares of company stock worth $3,535,759 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after buying an additional 26,856,752 shares during the last quarter. State Street Corp grew its position in Apple by 4.7% during the 2nd quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker’s stock worth $182,897,769,000 after purchasing an additional 28,321,085 shares during the last quarter. Berkshire Hathaway Inc acquired a new stake in shares of Apple during the second quarter worth $65,950,297,000. Bank of America Corp DE purchased a new position in Apple in the 2nd quarter worth $36,986,090,000. Finally, Legal & General Group Plc purchased a new stake in Apple during the 2nd quarter valued at about $30,443,242,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Strong iPhone 18 demand supports near-term revenue. Long customer lines in India and sustained interest in the iPhone 18 Pro and Pro Max suggest Apple’s premium pricing has not materially weakened demand in a key growth market. However, regional trends are mixed, with China remaining a concern. Inside India newsletter: Apple set to take a bigger bite of the world’s second-largest smartphone market
• Positive Sentiment: New hardware and possible AI expansion provide growth catalysts. Apple’s iPhone Duo foldable, M6 Mac mini and M5 Ultra Mac Studio are being positioned as evidence that the company can still generate product excitement. Reports that Apple may develop its own AI server chips could also improve control over infrastructure costs and AI performance. Could John Ternus’ Product Strategy Reshape Apple’s Next Growth Phase?
• Positive Sentiment: Analyst support remains favorable. JPMorgan reaffirmed a “buy” rating, while Bank of America maintained its “buy” rating and set a $370 target, implying further upside from recent levels. Apple analyst ratings
• Neutral Sentiment: Apple renewed Qualcomm’s global patent license agreement. The deal, effective April 1, 2027, removes a potential licensing uncertainty but also highlights Apple’s continuing relationship with Qualcomm for modem-related technology. Qualcomm, Apple extend licensing agreement for chips
• Negative Sentiment: Valuation and AI execution are major investor concerns. Commentators argue that AAPL’s large gains and roughly $4.9 trillion market capitalization leave limited room for disappointment, particularly if Apple’s AI products fail to match Meta’s rapidly advancing AI agents and wearables. Apple stock could be 32% overpriced after fresh AI cost warnings
• Negative Sentiment: Near-term execution issues add pressure. Reports of an iPhone 18 Pro reboot problem requiring a software update, Fitness+ layoffs and an executive’s stock sale may reinforce concerns about product quality, cost control and insider confidence. Apple says software update to fix iPhone 18 Pro rebooting bug is coming next week

About Apple

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company’s ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.