Wamsi Mohan, an analyst from Bank of America Securities, maintained the Buy rating on Apple. The associated price target remains the same with $235.00.
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Wamsi Mohan has given his Buy rating due to a combination of factors, including strong growth in Apple’s App Store revenue and the company’s potential in emerging markets and technologies. The App Store has seen a notable increase in revenue, growing by 11.5% year-over-year in the fiscal third quarter of 2025, with global revenue for June alone up by 12%. This growth is accompanied by a shift in revenue mix away from gaming, indicating diversification into other app categories, which could provide long-term benefits for Apple.
Additionally, Mohan highlights Apple’s robust capital returns and its strategic positioning to capitalize on artificial intelligence at the edge. Despite concerns about the impact of the Epic Games ruling, there appears to be no significant negative effect on App Store revenue. The price objective remains at $235, reflecting confidence in Apple’s earnings potential, supported by a projected 12% year-over-year growth in services revenue for the same quarter. These factors collectively underpin the Buy rating for Apple’s stock.
In another report released on June 26, J.P. Morgan also maintained a Buy rating on the stock with a $230.00 price target.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year.