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BofA ups Apple target to $265, sees minimal tariff impact on earnings

MacDailyNews

Feb 3

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On Monday, BofA Securities reaffirmed its “Buy” recommendation for Apple stock, increasing its price target from $253 to $265. This adjustment aligns with the optimistic view of the tech company, even amidst concerns regarding iPhone sales in communist China’s struggling economy.

GuruFocus:
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The U.S. government has slapped Apple’s suppliers with a potential supply chain impact by taxing Chinese imports over the weekend with a 10% tariff. Apple, as in previous tariff cycles, sought and received carve-outs for phone products, but it is unclear if that will be the case for this run.
For example, analysts have assessed how differing U.S. price levels could affect Apple’s earnings under two scenarios, with existing U.S. pricing versus this pricing increasing. In either case, the effect on earnings is expected to be limited.

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MacDailyNews Take: From BofA’s lips to Mr. Market’s ears!

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