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BofA analyst: Apple potential underestimated
The BofA analyst highlights the potential of Apple shares and contradicts the critics. Find out why Apple's future could be bright. #Apple #BofA #stock market
BofA analyst: Apple potential underestimated
Wall Street may be underestimating Apple's potential, says BofA analyst Wamsi Mohan. According to Mohan, Apple's future profit margins could exceed skeptics' expectations. Previous assessments have already been revised in Apple's favor, and this is expected to happen again. Critics criticize the lack of innovation and doubt the company's future growth potential. This is also reflected in the current share price, which has declined since the beginning of the year.
Bank of America's Wamsi Mohan is optimistic that Apple's gross margins will increase in the future. He forecasts an increase in gross margin across both the company's products and services. He particularly emphasizes the importance of services for Apple compared to hardware products, as they are more profitable. Additionally, cost savings could be achieved by using home-grown chips and reducing reliance on public cloud providers.
According to Mohan, the focus on artificial intelligence could offer Apple additional potential. The company plans to launch new Macs with a custom-designed AI-focused M4 processor. Mohan also points out that stability in iPhone prices is another factor in potential earnings growth. He therefore reiterates his price target for Apple shares and continues to recommend buying.
Overall, 16 of 28 analysts surveyed on TipRanks are also positive and recommend buying Apple shares. The average price target forecast is $200.21. Thus, Apple's potential is recognized by various experts, and the company's future prospects remain promising.