BofA analyst Wamsi Mohan raised the firm’s price target on Apple (AAPL) to $265 from $253 and keeps a Buy rating on the shares. Guidance for the March quarter was “better than feared” and the firm’s thesis remains that Apple Intelligence will continue to drive upgrades, as evidenced by the better sales performance in fiscal Q1 in those regions where Apple Intelligence has already been launched, the analyst tells investors. The company’s broad portfolio and service offerings remain resilient to macro demand fluctuations and cash generation remains “strong,” the analyst added.
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