Apple Inc.
Why It Matters:
BofA Securities released a research note based on the list of Apple's suppliers which named companies that could potentially benefit from an Apple product cycle.
BofA named electronics manufacturers Jabil, Inc.
Amphenol Corporation
The firm maintained its Buy rating on Apple with a $225 price target highlighting higher growth in Services revenue and continuing capital returns. BofA also expects a strong iPhone upgrade cycle in 2025 driven by the need for the latest hardware in order to enable generative-AI features.
AAPL, JBL, FLEX, APH, GLW Price Action: According to Benzinga Pro, Apple shares are up 3.24% at $174.75, Jabil shares are down 0.66% at $117.49, Flex shares are up 0.16% at $29.02, Amphenol shares are up 0.86% at $121.53 and Corning shares are up 0.85% at $31.60 at the time of publication Monday.