Apple (NASDAQ:AAPL) is one of the 15 AI Stocks Analysts Are Watching: Microsoft, Nvidia, and More.
Recently, CEO Tim Cook confirmed that Apple Inc. is raising prices to offset rising memory costs
In response, on June 18, BofA Securities analyst Wamsi Mohan reiterated a Buy rating on the stock with a $380.00 price target. The firm believes that Apple may be able to protect its earnings this way even as memory costs rise. The firm wrote in its investor note how a price raise was already anticipated, reflecting about $100 price increase in its prior estimates.
However, CEO Cook confirming the cost pressure and due to the continued raise in memory costs, the firm believes Apple may further raise pricing by an additional $100 on the Pro and Pro-Max models. The base iPhone model is expected to remain unchanged. The firm believes that the idea is that buyers’ of premium Apple products may be less sensitive to price changes.