Apple (NASDAQ:AAPL) Earns “Buy” Rating from Bank of America

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by equities researchers at Bank of America in a report released on Wednesday, Benzinga reports. They currently have a $370.00 price objective on the iPhone maker’s stock. Bank of America‘s target price would suggest a potential upside of 9.81% from the company’s current price.

A number of other brokerages have also recently issued reports on AAPL. Maxim Group upped their target price on Apple from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Argus boosted their price objective on Apple from $325.00 to $375.00 in a research note on Monday, June 8th. Piper Sandler started coverage on Apple in a report on Monday, August 17th. They issued an “overweight” rating for the company. Loop Capital set a $380.00 target price on shares of Apple in a research report on Friday, September 18th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $400.00 target price on shares of Apple in a report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $340.14.

Apple Stock Down 0.8%

Shares of NASDAQ AAPL traded down $2.79 during mid-day trading on Wednesday, reaching $336.96. The company had a trading volume of 14,270,072 shares, compared to its average volume of 49,591,902. The firm has a 50 day simple moving average of $321.17 and a two-hundred day simple moving average of $295.97. Apple has a 52-week low of $243.42 and a 52-week high of $345.34. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The stock has a market cap of $4.92 trillion, a P/E ratio of 38.66, a PEG ratio of 2.94 and a beta of 1.08.

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

Insiders Place Their Bets

In related news, SVP Jennifer Newstead sold 1,439 shares of Apple stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total value of $456,177.39. Following the transaction, the senior vice president directly owned 35,790 shares in the company, valued at $11,345,787.90. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 8,632 shares of company stock valued at $2,719,955. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Several hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Apple by 4.7% during the second quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker’s stock worth $182,897,769,000 after acquiring an additional 28,321,085 shares during the period. Silicon Valley Capital Partners lifted its position in Apple by 0.8% in the second quarter. Silicon Valley Capital Partners now owns 205,570 shares of the iPhone maker’s stock valued at $59,484,000 after purchasing an additional 1,555 shares during the period. Security National Bank of Sioux City Iowa IA lifted its position in Apple by 19.6% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 36,623 shares of the iPhone maker’s stock valued at $10,597,000 after purchasing an additional 5,989 shares during the period. Wellington Altus USA Inc. boosted its holdings in Apple by 78.4% in the 2nd quarter. Wellington Altus USA Inc. now owns 10,633 shares of the iPhone maker’s stock valued at $3,077,000 after purchasing an additional 4,674 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC boosted its holdings in Apple by 29.2% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 600,912 shares of the iPhone maker’s stock valued at $177,300,000 after purchasing an additional 135,884 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Early demand for the iPhone 18 Pro appears resilient: shipping wait times remain close to last year’s levels despite substantial price increases, suggesting customers may be accepting higher prices. Apple iPhone 18 Pro Wait Times Stay Near Last Year’s Levels Despite Higher Prices
• Positive Sentiment: Apple’s new M6 Mac mini and M5 Mac Studio are being marketed as lower-cost alternatives to cloud data-center computing for local AI workloads. The strategy could expand Mac demand and position Apple as a beneficiary of efforts to reduce AI infrastructure costs. With new Macs, Apple aims to take on Microsoft and Nvidia in a rush to lower AI costs
• Positive Sentiment: The iPhone Duo foldable launch, continued iPhone demand and reports of potential health-wearable products have supported Apple’s recent rally. A screenless fitness tracker could broaden Apple’s wearable ecosystem, although any commercial launch appears years away. Apple Considers Screenless Fitness Tracker to Expand Wearable Lineup Beyond Smartwatches
• Neutral Sentiment: Apple briefly crossed the $5 trillion market-capitalization threshold after reaching an intraday record, reinforcing bullish sentiment but also increasing the likelihood of profit-taking near all-time highs. Apple stock flirts with $5T again
• Negative Sentiment: Wednesday’s weakness reflects broader risk-off pressure affecting large-cap technology and growth stocks, while investors may be locking in gains after Apple’s sharp 2026 advance. Apple’s valuation remains demanding, with a reported P/E near 39, leaving less room for disappointment. What Is Going on with Apple Stock on Wednesday?
• Negative Sentiment: Qualcomm’s new AI-focused Snapdragon chips intensify competition with Apple’s premium iPhone processors, particularly around on-device AI performance. That could raise concerns about Apple’s ability to maintain its technology and pricing advantage. Qualcomm Comes For Apple’s A20 Pro With New AI-First Snapdragon Chips

Apple Company Profile

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.