Apple stock (AAPL) has been up in the past month, with bank firms revising their price predictions per share in a positive direction. Currently trading at $245 at press time, AAPL is up 10% since January 21. Analysts at Goldman Sachs are bullish on the stock and have recently upped their price prediction for the iPhone maker to $294.
On top of the price prediction of $294, Goldman Sachs maintained a “Buy” rating for AAPL stock. The firm noted that the company’s iPhone 16e announcement has been largely in line with expectations. While Apple’s sales have struggled across the pond, in the native US they are in line with expectations. The firm notes that despite the newest model being a bit higher than normal prices, the new model will benefit AAPL in the long run as it moves towards new AI-friendly updates.
Additionally, Apple Inc. reported steady Q1 2025 results, with sales growth of 4% year-over-year and EPS coming ahead of expectations. In the tech industry, Apple ranks number one in the country in terms of market capitalization, around $200M ahead of rival Nvidia. Besides the solid earnings, Apple also announced plans to expand Apple Intelligence to new markets and languages in April 2025. This is expected to drive further adoption and enhance the user experience for Apple products using AI technology. Thus, Apple’s stock may be more intriguing to investors looking to jump into a top tech company.
BofA Also Bullish on Apple Stock
Another firm that is bullish on AAPL stock is Bank of America. Indeed, the bank maintains its Buy rating on Apple, citing “stable cash flows, earnings resiliency & potential beneficiary of AI use on edge devices.” Also, BofA has left its financial estimates unchanged, keeping its price target at $265 per share.
Furthermore, Apple (AAPL) has already added $500 billion to its market cap in November with one key record nearing. Apple is currently eyeing the $4 trillion record that no company in history has reached before. The company has a market value of $3.7 trillion, one of its highest marks ever. Moreover, analysts project that the ongoing surge of AI demand will carry the company and its stock to record levels.