Bank of America raised its Apple stock price target from $325 to $330 and kept a Buy rating, after Apple posted its best March quarter on record. Revenue hit $111.2 billion, up 16.6% year over year, clearing the $109.3 billion Wall Street consensus by a solid margin. Earnings per share also beat, coming in at $2.01, up 22%, versus a $1.94 estimate. The Apple stock forecast across the Street now looks more optimistic than at any point this year, with several major firms also revising their numbers higher following the Q2 print.
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Apple Stock Price Target, Forecast And Bank Of America Outlook
What Drove the Q2 Beat
iPhone revenue led the charge, climbing 21.7% to $57 billion, a March quarter record, led by the iPhone 17 family and a record number of upgraders. Services revenue grew 16.3% to $31 billion, also an all-time high, and gross margin reached a lofty 49.3%. BofA analyst Wamsi Mohan stayed bullish on Apple stock, pointing to iPhone revenues tracking better than expected globally, including in China. He also noted that Apple managed to keep margins relatively strong despite ongoing tariff headwinds.
Apple CEO Tim Cook said on the earnings call:
“The demand was off the charts. And there’s just a little less flexibility in the supply chain at the moment for getting more parts.
Incoming CEO John Ternus also stated:
“We have an incredible roadmap ahead. And while you are not going to get me to talk about the details of that roadmap, suffice it to say, this is the most exciting time in my 25-year career at Apple Inc.”
Wall Street Price Targets After Earnings
The Bank of America Apple target of $330 sits in the middle of a wide analyst range right now. At the time of writing, 43 analysts are covering AAPL, with a consensus average of $305.33, a high of $355, and a low of $215, per TradingView data. The Apple stock price target also moved up at several other firms:
| Firm | Price target |
|---|---|
| Wedbush | $350 |
| TD Cowen | $335 |
| Morgan Stanley | $330 |
| Bank of America | $330 |
| Wells Fargo | $310 |
| UBS | $296 |
| Barclays | $253 |
Services Momentum and What BofA Sees Ahead
The broader Apple stock forecast from BofA rests heavily on Services momentum. Five years ago, Services generated $53.8 billion, or about 19.6% of total revenue. By fiscal 2025, that number more than doubled to $109.2 billion, reaching 26.2% of total sales. The most recent quarter put Services at 28% of revenue, at $31 billion.
Looking at fiscal Q3, the firm models 14% year-over-year Services growth. Early App Store data supports that view: after 33 days, App Store sales rose 3.7% to $3.2 billion. April also tracked better, with China App Store sales up 10.2%, its first double-digit growth since April 2025. BofA also sees upside from AI-powered Siri and a foldable iPhone, and flags a slower upgrade cycle, tariff pressure, and a stronger dollar as risks. The bank forecasts Apple EPS of $8.61 for fiscal 2026, rising to $9.96 in 2027 and $10.84 in 2028.
Shares are trading around $276.83 at the time of writing. The Apple stock target lifted to $330 by Bank of America implies roughly 18% upside from current levels, and with the broader Apple stock price target consensus sitting at $305.33, analysts see room to grow.
