Bank of America Cuts Apple Target, Lifts Dell to $172 & Sandisk to $900
Bank of America’s Asia supply chain checks cut Apple’s price target to $320 from $325 and project a 2026 foldable iPhone launch. The firm held ASML at €1,598 and raised Dell’s price target to $172 and Sandisk’s to $900 on strong AI server and NAND demand.
1. Apple Foldable Launch And Price Target Cut
Asia supply chain checks indicate Apple plans a foldable iPhone launch in 2026 featuring a book-style design with a 7.7- to 7.8-inch inner display and sub-10mm thickness when folded. Bank of America lowered its Apple price target to $320 from $325 using a 32x multiple on 2027 EPS of $9.94.
2. Unchanged ASML Rating With EUV Expansion Outlook
The firm maintained its Buy rating on ASML with an unchanged €1,598 price target, citing a strong memory capital expenditure cycle persisting through at least 1H27. Analysts project 15 high-NA EUV tool deliveries in 2028 and low-NA capacity to reach 22 units by 4Q27, underpinning a conservative €52 billion 2028 revenue forecast.
3. AI Server Demand Boosts Dell And Sandisk Targets
Supply-chain checks revealed robust AI server demand, prompting a Dell price target increase to $172 from $155 alongside a first-quarter AI-server revenue forecast of $15 billion. Sandisk’s NAND outlook led to a modeled 63% quarter-over-quarter ASP jump in the March quarter and a raised June-quarter growth forecast of 20%, lifting its target to $900.