Bank of America hikes AAPL target to $470, downgrades stock to neutral

Bank of America Securities analyst Wamsi Mohan has downgraded Apple's stock to a "neutral," citing a new balance to risk and reward as the stock has hit new highs following a blockbuster earnings report.

Apple's iPhone 12 will drive Apple's fiscal year 2021 revenue — Image Credit: iSpazio
After hiking a target price for Apple stock to $420 after the earnings report, Wamsi Mohan at Bank of America Securities has again revised his expectations for the stock. In a note to investors seen by AppleInsider, Mohan is now no longer underwater at $470 per share, but has reclassified the stock as neutral versus buy, since he sees the stock as more balanced than it has been previously.

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