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Bank of America keeps buy on Apple with $385 target despite memory cost pressures.

Analyst Insights
09 Nov 2026, 16:03 WIB
24/7 Wall Street
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Bullish
Bank of America keeps buy on Apple with $385 target despite memory cost pressures.

Bank of America analyst Wamsi Mohan maintains a buy rating on Apple, setting a price target of $384.73, about 11% above current levels. Apple just reported its best fiscal year ever with strong revenue and earnings, but faces margin pressure from rising memory costs described as "unprecedented." Despite this, Apple's strong cash flow, large installed base, and ongoing stock buybacks support optimism. Management expects December-quarter revenue growth of 7-10%, and AI-driven upgrades could push the stock even higher. Risks remain if memory costs squeeze margins beyond guidance.

Apple shares trade at USD 344.00 on Pluang as of Nov 09, 2026 21:12 WIB, close to its 52-week high of USD 349.51. The stock shows a modest 0.48% gain over the past day, reflecting steady investor interest despite margin concerns highlighted in the news. With a market cap of $4.98 trillion and typical hold time of 146 days on Pluang, Apple remains a major technology sector player among retail investors.

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