Bank of America Raises Apple Price Target to $380, Cites AI Growth Impact
AAPL•Bank of America raised its Apple price target to $380 from $330, maintaining a Buy rating on gains from agentic AI integration in the iPhone ecosystem controlling intent, identity and payments. Analysts project a Siri overhaul could add $15–30 billion to fiscal 2030 revenue, or $40–65 billion with strong adoption.
1. Bank of America Raises Price Target
Bank of America lifted Apple’s price target to $380 from $330 while maintaining a Buy rating. The increase reflects expectations that Apple will leverage AI developments to drive higher device sales and services revenue.
2. Agentic AI Integration Thesis
The firm argues that Apple’s control over user intent, identity, app distribution, authentication and payments positions it to monetize AI assistants. Agentic AI could enable Siri or future assistants to handle tasks like search, payments and workflow completions directly within the iPhone environment.
3. Siri Overhaul Could Boost Revenue
A more capable Siri built into future iOS updates is projected to add $15–30 billion to fiscal 2030 revenue under base adoption, rising to $40–65 billion if uptake exceeds expectations. Investors will watch Apple’s Worldwide Developers Conference for signs of the next Siri upgrade and AI strategy execution.
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