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After quite complicated days, Apple returns to run on Wall Street, gaining over 2% in the first hours of trading. The rally started after Bank of America analysts raised the rating of the Cupertino giant’s stock from “Neutral” to “Buy”. According to the American bank, in fact, Apple shares could grow by 20% in 2024, thanks to forecast data on iPhone sales and revenues from the services sector.
A vision, that of Bank of America, which goes against the trend compared to the analyzes arrived in recent days, when both Barklays and Piper Sandler &Co had opted for a downgrade of Apple’s stock. Downgrades that had hit Apple’s stock on the stock exchange quite heavily.
This time, however, the wind blows in the opposite direction. And apparently two events in particular influenced Bank of America analysts: the imminent launch of the Vision Pro headset (which according to analysts should generate more revenue than the iPad) and Apple’s next entry into the intelligence business generative technology, with an announcement expected in spring.
With Apple’s stock on the rise, the battle for Wall Street leadership with Microsoft is reconfigured. Both giants boast market capitalizations hovering around $2.9 trillion. And at this moment the duel is truly very close.