Posted 1/18/2024, 4:28:00 PM
BofA Upgrades Apple to Buy on AI and Headset Potential
- BofA analyst upgrades Apple stock to Buy from Neutral, citing upcoming AI features and Vision Pro headset sales lift
- Predicts stronger multi-year iPhone upgrade cycle as consumers buy new phones with AI capabilities
- Forecasts higher services growth as Apple better monetizes installed base
- Risks around legal issues are manageable
- Sentiment likely to turn more positive as focus shifts to Vision Pro launch and AI-enabled iPhones