Apple (AAPL) stock has risen 3.8% over the past week, slipped 1.5% over the past month, and surged 41.6% over the past year. Wall Street’s analysts are moderately bullish, forecasting further upside over the next twelve months with an average price target of $304.40 versus the last close of $255.92.
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Bank of America analyst Wamsi Mohan, a 4.5-star ranked expert who stands at #67 out of 12,068 analysts with a 61.76% success rate and 29.40% average return per rating, reiterated his Buy rating on Apple on April 6, 2026. He maintained a price objective of $320, implying notable upside from current levels.
Mohan’s latest note focuses on the newly launched MacBook Neo, which he sees as Apple’s first serious move into the lower-end PC market where its notebook share is currently under 1%. He estimates Neo opens a more than $32 billion total addressable market in calendar 2026, targeting notebook prices between $300 and $800.
By his calculations, if Apple captures 10% of this market at operating margins of 19%, the Neo could add about $0.03 to Apple’s earnings per share in 2026. He believes the majority of Neo revenue will be incremental, creating a meaningful tailwind for Mac revenue and total company EPS, alongside other catalysts like AI at the edge, a potential foldable device, and strong capital returns.
Crucially, Mohan argues the Neo’s aggressive $499–$699 pricing could attract many first-time Mac buyers, expanding the Mac installed base beyond the current ~260 million versus roughly 1.5 billion iPhone users. A larger, stickier installed base could further boost Apple’s services and ecosystem revenue over time, supporting his unchanged $320 price target based on 32x expected 2027 EPS of $9.94.
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