Apple price target lowered to $250 from $265 at BofA

BofA lowered the firm’s price target on Apple (AAPL) to $250 from $265 and keeps a Buy rating on the shares. Given the latest news around tariffs being set at 54% on China, 26% on India and 46% on Vietnam, all of Apple’s products will be subject to tariffs at various rates, the analyst tells investors. BofA expects Apple to manage its supply chain to minimize the impact, but if these tariff rates do stand and Apple absorbs the entire $20B of headwind and 500 basis points to gross margins, the firm expects an impact of $1.24 to EPS in calendar 2026, the analyst explains. Despite the tariff headwinds, the firm views the 15% potential cut to EPS without offsets as “attractive compared to the potential global disruption that could be caused by an escalating trade war” given that it views Apple as “relatively defensive,” the firm added.