BofA Merrill Lynch ups Apple target price to $145

“BofA Merrill Lynch raised its price target on Apple to $145.00 (from $140.00) while maintaining a Buy rating,” StreetInsider reports.

Our survey polled over 1000 respondents from various age groups, income levels, and cities in mainland China. iPhone loyalty remains strong with 82% of current iPhone owners planning to purchase another, and switcher rates continue to be robust. 28% of current non-Apple users intend to switch to iPhone as per our survey. – Wamsi Mohan, BofA Merrill Lynch analyst

StreetInsider reports, “‘While a large portion of respondents have already upgraded to iPhone 7 (11%), we expect continued demand for iPhone 7 (especially 7+) to drive growth in China through September, when we expect a strong iPhone 8 cycle,’ [Mohan continued].”

Full article here. — Wamsi Mohan, BofA Merrill Lynch analyst

MacDailyNews Note: Apple’s all-time intraday high of $134.54 was set on April 28, 2015. Apple’s all-time closing high of $133.00 was set on February 23, 2015.


  1. I wonder where all those people are who predicted Apple would be under $100 after earnings. Why doesn’t the news media now interview those people who predicted Apple’s fall and see what they have to say for themselves? Doing so might prove how foolish it is to listen to people who claim they know everything about Apple’s present and future.

    I’ll admit I had my doubts as to where Apple’s share price would be. I sure didn’t think it would be as high as it is. I don’t trust Wall Street at all. They can fudge the value of any company as they please. I have no reason to gloat. I stayed pat with Apple and it came through this quarter after a year of going almost nowhere. Where Apple’s share price will be next quarter, I have no idea. Wall Street giveth and taketh away. I can only hope the share price at least stays where it is and doesn’t tank.

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