BoA Analyst Bumps AAPL’s Price Target to $325 on iPhone Strength

| Apple Stock Watch

Bank of America Merrill Lynch raised its price target on Apple’s stock from US$300 per share to $325. According to a MarketWatch report, the firm cited future strength in iPhone sales as the primary reason for the increase.

“We believe multiple tailwinds exist for iPhones, including strength at AT&T and internationally, and Asia production levels remain solid. We raise our iPad estimates on better-than-expected sales (with lengthy lead times) and Asia channel checks,” the firm said in a research note to clients.

BoA Merrill Lynch maintained its Buy rating on the stock, as well.

AAPL traded higher Friday, closing at $256.88, a gain of $3.53 (+1.39%), on moderate volume of 29.1 million hands trading hands.

*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.  

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Comments

401k

Really.  Its not that I dont want to see AAPL get up there in price - I own AAPL stock…  I just dont believe a darn word that comes from Bank of America anymore.  They cant even get their own company straight and yet they’re analyzing others?  They are the last ones to make comments about other companies… Doesnt pass the smell test.  Sorry.

Constable Odo

I’m noticing that even though the targets for Apple are being upgraded, the general economy seems to be at odds.  The DJIA is still scraping around 10,000 and tech stocks are still down.  Apple is basically running into a continuous headwind no matter how many products they’re selling.

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