BofA cuts Apple target to $370 on margin pressure; analyst calls 37x P/E "ridiculous" vs Nvidia
firstadopter · x · 2026-09-10
Bank of America cut its Apple price target and EPS estimates on margin pressure: lower-than-expected new iPhone pricing may drive units but higher memory/component costs squeeze gross margin. Target moves to $370 (from $380) at an unchanged 37x on C27E EPS of $9.98 (prior $10.32). Blogger firstadopter argues the multiple is unjustified—Apple trading at 30x 2027 while Nvidia grows far faster at a tiny multiple—and says Apple's P/E should be cut in half as margins compress.
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