Analyst Wamsi Mohan of Bank of America Securities reiterated a Buy rating on Apple (AAPL – Research Report), retaining the price target of $265.00.
Wamsi Mohan has given his Buy rating due to a combination of factors including the robust growth in Apple’s App Store revenues and the company’s strategic expansion of its services. The App Store has seen a significant year-over-year revenue increase of 14% in the second fiscal quarter of 2025, with a notable rise in downloads and dollars per download. This growth is supported by the rapid expansion in the Productivity app category, driven by the popularity of applications like ChatGPT.
Furthermore, Apple’s efforts to broaden its services beyond its ecosystem, such as making the Apple TV App available on Android devices, are expected to bolster long-term subscription revenues. Mohan maintains a positive outlook on Apple’s stable cash flows and earnings resilience, particularly as the company positions itself to benefit from advancements in AI on edge devices. The price objective remains at $265, reflecting confidence in the company’s continued growth and diversification strategies.
Mohan covers the Technology sector, focusing on stocks such as Apple, HP, and International Business Machines. According to TipRanks, Mohan has an average return of 10.7% and a 58.18% success rate on recommended stocks.
In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $270.00 price target.