BofA Reiterates Apple (AAPL) Buy Rating with $270 Target as Carrier Incentives Drive iPhone 17 Demand

Core Insights - Apple Inc. is highlighted as a top AI stock, with a Buy rating and a price target of $270.00 from BofA Securities analyst Wamsi Mohan [1] - Carrier incentives from T-Mobile and Verizon are making iPhones more affordable through bundled financing and extended payment plans [1][3] Carrier Subsidies and Pricing - Carriers are providing $100 more in subsidies compared to the previous year, which helps offset the iPhone 17 Pro's higher base price of $1,099 for 256GB storage, compared to the iPhone 16 Pro's price of $999 for 128GB storage [2][3] - T-Mobile reports double-digit growth in iPhone activations, while Verizon indicates strong upgrade activity among its existing customer base [2][3] Financing Options - Carrier incentives allow for iPhones to be more affordable by bundling financing with telecom services and spreading the cost over 24 to 36 months [3] - The increase in subsidies for the iPhone 17 series is aimed at covering the higher base price of the new models [3] Market Activity - Recent lead times suggest that shipment times for the iPhone 17 are longer compared to last year, while Pro and Pro Max models have similar shipment times to the previous year [3]