Bank of America raised its Apple price target to $380 from $330, citing a potential $15 billion to $30 billion revenue opportunity from agentic AI by fiscal 2030.
Bank of America raised its Apple price target to $380 from $330, citing a potential $15 billion to $30 billion revenue opportunity from agentic AI by fiscal 2030.

Bank of America raised its Apple price target to $380 from $330, citing a potential $15 billion to $30 billion revenue opportunity from agentic AI by fiscal 2030.
"In an agentic world, value accrues to platforms that control the user experience," Wamsi Mohan, an analyst at Bank of America, said. He maintained a Buy rating on the stock.
The new $380 target implies about 22% upside from Apple's last close at $311.68. Mohan estimates agentic Siri could generate $15 billion to $30 billion in incremental revenue in the base case and as much as $40 billion to $65 billion in a bull case, adding up to $2 in incremental earnings per share.
The upgrade shifts the narrative around Apple's AI strategy from a defensive catch-up story to a potential growth driver. Apple is expected to discuss additional AI features at its Worldwide Developers Conference in June.
Bank of America had previously trimmed its Apple target to $320 in March over concerns tied to staggered iPhone launch timing. The firm maintained a Buy rating at the time and continued to argue AI would remain a long-term growth driver.
Mohan's thesis centers on Apple's control over hardware, software, and payment systems — an advantage he argues becomes more valuable as AI tools gain deeper access to personal data and apps. The analyst sees Apple as uniquely positioned to capture value from AI-powered search, commerce, scheduling, payments, and workflow execution.
Morgan Stanley raised its Apple target to $315 in December, also pointing to long-term AI and Services growth. Apple shares rose 0.5% in premarket trading after the BofA note.
The revised target signals that Wall Street is beginning to price AI as a standalone revenue stream rather than just a feature set. Investors will watch Apple's WWDC keynote in June for the next wave of Apple Intelligence features and any updates on Siri's agentic capabilities.
This article is for informational purposes only and does not constitute investment advice.