New $380 Bank of America AAPL target puts AI in the spotlight
Bank of America has raised its price target for Apple to $380, citing the potential of AI as a significant growth driver. The firm believes that Apple's AI revenue potential is underestimated and could reach between $15 billion and $30 billion by fiscal 2030. This outlook reflects a shift in Wall Street's perception of Apple's AI strategy, focusing on its ecosystem rather than standalone features.
- ▪Bank of America increased Apple's price target from $330 to $380, emphasizing AI as a major revenue driver.
- ▪The firm expects Apple to generate $15 billion to $30 billion in AI-related revenue by fiscal 2030.
- ▪Analysts are beginning to view Apple's AI business more positively, moving past earlier concerns about delays and competition.
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News New $380 Bank of America AAPL target puts AI in the spotlight Andrew Orr 0 e-mail BlueSky Mastodon X Facebook Reddit Tue May 26 2026, 10:45 AM EDT · 2 minute read Apple Intelligence Bank of America just gave Apple one of Wall Street's most aggressive price targets yet after betting that AI could become the company's next major growth engine, rather than just another iPhone feature. The firm raised its Apple price target to $380 from $330 on Tuesday, arguing that "agentic AI" could become a major long-term revenue driver for the company. Bank of America believes Wall Street continues to underestimate Apple's AI revenue potential across its ecosystem.
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