BofA Raises Apple Price Target To $270, Maintains Buy Rating

Group 1 - BofA Securities raised its price target on Apple to $270 from $260 while maintaining a Buy rating after the company's annual product launch event [1] - Apple introduced new versions of the iPhone, Watch, and AirPods with enhanced health-related features such as heart rate sensing, hypertension notifications, and sleep scoring [2] - The new products also feature functionality improvements including live translation powered by Apple Intelligence, enhanced cameras, and better battery performance [2] Group 2 - Apple is positioned to lead in artificial intelligence at the edge, supported by the use of in-house silicon like the new A19 and A19 Pro chips, a C1X modem, and upgraded GPU neural accelerators [3] - Pricing estimates for the new iPhone models have been adjusted slightly higher, with the iPhone 17 Air priced $100 above the 16 Plus and the Pro model starting at $1,099 for 256GB, compared to last year's $999 entry-level Pro with 128GB [4] - Historically, while Apple's shares tend to decline following the product launch event, they have shown a tendency to recover within 30 to 60 days [4]