Market Overview

Bank of America Reiterates Buy Rating, $570 PT on Apple on Possible Growth Catalyst

Related AAPL
Apple Responds To Allegations Made In BBC Documentary
Apple's New 12-inch MacBook Air Expected to Enter Mass Production in Q1 of 2015, Apple Watch in 3 Months -Digitimes
BlackBerry CEO Talks 'Classic' Debut, Strategy (Fox Business)

In a report published Wednesday, Bank of America reiterated its Buy rating and $570.00 price target on Apple (NASDAQ: AAPL).

Bank of America noted, “As investors continue to look for the next growth driver for Apple, media and investors alike have been speculating on the possibility of Apple launching new iPhone models that are additive to the company's current product line-up (i.e. a 'lower cost' phone and/or larger screen phone). In this report, we assess the case for a lower-cost iPhone. We provide an in-depth analysis of current smartphone market dynamics, especially in the mid-range segment, as well as potential financial impact. We conclude that a lower cost iPhone would be a modest revenue/EPS contributor – nice to have – but adding carriers (i.e. China Mobile, which may not be mutually exclusive with a lower cost iPhone), a larger screen phone, and growth from other products will likely be important also.”

Apple closed on Tuesday at $479.93.

Latest Ratings for AAPL

DateFirmActionFromTo
Dec 2014CitigroupMaintainsBuy
Dec 2014JMP SecuritiesMaintainsMarket Outperform
Dec 2014Canaccord GenuityMaintainsBuy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Reiteration Analyst Ratings

 

Related Articles (AAPL)

Around the Web, We're Loving...

Get Benzinga's Newsletters