Bank of America raises Apple price target because of Vision Pro

After weeks of analysts downgrading Apple, Bank of America has raised its price target from $208 to $225 on the strength of both iPhone and Apple Vision Pro.Side view of the Apple Vision ProIn a reversal of Barclays, which cited weak iPhone demand as a reason to downgrade Apple, BofA's Wamsi Mohan sees increased production as justification to raise the company's price target. The news comes as Apple begins taking pre-orders for its new Apple Vision Pro, but Mohan's reasoning is centered as much on the iPhone and future use of generative AI.According to Mohan, in a note seen by MarketWatch, there is now the potential for a 'stronger multi-year iPhone upgrade cycle.' Specifically, he expects that interest in AI will spur users to buying new devices that can utilize it. Continue Reading on AppleInsider | Discuss on our Forums