Bank of America trimmed Apple's stock target to $320 from $325, citing delays in the non-Pro iPhone 18 launch to early 2027. The move follows Apple's rumored shift to launch the iPhone Fold in fall 2026, pushing base models like the Air and "e" series to March 2027. Analysts note this alters Apple's typical revenue seasonality, displacing holiday quarter sales to Q2/Q3.

Despite the cut, BoA maintains a "Buy" rating, emphasizing long-term confidence in Apple's AI and smart home strategies.