AAPL
Apple’s having one of those ‘nothing to see here, just up 4%’ days
Apple managed to outrun a rough day for tech, climbing more than 4% while the Nasdaq got smacked and the sector as a whole slid. That kind of relative strength matters because it says investors weren’t just buying the market — they were buying Apple specifically.
The BofA bull case in plain English
Bank of America Securities analyst Wamsi Mohan kept his Buy rating and $380 price target, arguing that Apple still has a few tricks left up its sleeve:
- Services are still growing: BofA pointed to App Store revenue up 3.2% year over year to $8.8 billion in Apple’s fiscal third quarter.
- The cash machine keeps humming: Mohan highlighted Apple’s capital returns, aka the company’s ability to keep showering shareholders with buybacks.
- AI could be the next act: Between a new Siri architecture and Apple silicon, BofA sees room for edge-AI monetization later on.
That’s Wall Street speak for: Apple may be giant, but it’s not out of ideas yet.
Why investors should care
Apple’s stock was trading around $306.64, which puts it near its 52-week high and still in a pretty clean uptrend. Translation: the market is willing to pay up for the name, especially with earnings coming on July 30th.
There’s also a little legal subplot here. BofA said the Supreme Court agreeing to hear Apple’s Epic Games appeal is a constructive sign for App Store economics — which is analyst code for “maybe Apple can keep the toll booth running a little longer.”
Big picture
Apple doesn’t need a moonshot to keep investors interested. A steady services engine, monster buybacks, and a believable AI story are enough to keep the stock from getting shoved into the ‘mature tech dinosaur’ box just yet. And on a day when tech was getting punched in the mouth, that’s a pretty useful superpower.