Bank of America: Raised Apple’s (NASDAQ:AAPL) price target to $158 with neutral rating

Bank of America Securities issued a rating report saying that it is still concerned about the following points, including Apple’s (NASDAQ:AAPL) total revenue is lower than the bank and market expectations; We believe that there is no catalyst to drive the increase in demand; Weak end-market demand as customer confidence remains sluggish; iPad and Mac face tough year-over-year comparisons; and share buybacks lower than in previous quarters. The bank pointed out that even if the exchange rate is unfavorable and the macroeconomy is weak, the company’s profit margin is still strong; The bank lowered its revenue forecast for this year to $384 billion from $389 billion, raised its EPS estimate to $5.86 from $5.73 and raised its price target to $158 from $153, reiterating its neutral rating.

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