BofA Securities raised its price target on Apple (NASDAQ:AAPL) to $270 from $260 while reiterating a Buy rating following the company’s annual product launch event.
The analysts said Apple unveiled new versions of the iPhone, Watch, and AirPods with deeper integration into daily life, offering more health-related features such as heart rate sensing, hypertension notifications, and sleep scoring. The products also introduced functionality improvements, including live translation powered by Apple Intelligence, enhanced cameras, and better battery performance.
They noted that Apple appeared well-positioned to lead in artificial intelligence at the edge, supported by expanded use of in-house silicon, including the new A19 and A19 Pro chips, a C1X modem, and upgraded GPU neural accelerators.
The analysts said pricing estimates were adjusted slightly higher, with the iPhone 17 Air priced $100 above the 16 Plus and the Pro model starting at $1,099 for 256GB, compared with last year’s $999 entry-level Pro with 128GB. While Apple’s shares typically declined following the event, the analysts noted they historically recovered within 30 to 60 days.
