MacBook Neo can be ‘meaningful tailwind’ to Apple earnings, says BofA

BofA says Apple’s (AAPL) launch of the MacBook Neo earlier this month marks the company’s first real push to lower-end PC consumers and sees the notebook as “a meaningful tailwind” to Mac revenue and total company earnings as the majority of revenue should be incremental to Apple. The firm reiterates a Buy rating and $320 price target on Apple shares citing multiple catalysts, including AI at the edge, the launch of a foldable iPhone and strong capital returns.