BAML analyst Wamsi Mohan, who had cut his firm’s rating on Apple to neutral in early November, returned his assessment to “buy” with a price target of $210 per share, a 16.6% increase from the bank’s previous level. Monhan said that a “large reversal of inventory overhang” for Apple iPhones, as well as stability in the group’s global supply chain and “modest” acceleration in services revenue growth has improved the group’s valuation. He also predicated the group will announce a near-term share buyback plan.
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I think the upgrade is a bit too late. I mean Apple bottomed at $142 and the
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