CAT 
Side view of the Apple Vision Pro
In a reversal of Barclays, which cited weak iPhone demand as a reason to downgrade Apple, BofA’s Wamsi Mohan sees increased production as justification to raise the company’s price target. The news comes as Apple begins taking pre-orders for its new Apple Vision Pro, but Mohan’s reasoning is centered as much on the iPhone and future use of generative AI.
According to Mohan, in a note seen by MarketWatch, there is now the potential for a “stronger multi-year iPhone upgrade cycle.” Specifically, he expects that interest in AI will spur users to buying new devices that can utilize it.
Go Here to Read this Fast! Bank of America raises Apple price target because of Vision Pro
Originally appeared here:
Bank of America raises Apple price target because of Vision Pro
