Artificial intelligence’s shift to agents is set to be a positive for Apple , according to Bank of America. The bank reiterated its buy rating on the technology company in a Tuesday note and hiked its price target to $380 from $330. That indicates a 23% gain from Friday’s close. Analyst Wamsi Mohan explained that as AI models shift to focus on individual users through agents, that will build leverage for Apple over AI companies. That’s because Apple controls so much user data through its devices. “Apple’s agentic AI moat comes from Apple silicon & iOS,” Mohan wrote. “Silicon dictates how much inference can happen locally (matters for latency, privacy, reliability, and cost). OS determines whether AI can access user context, call apps, route requests, authenticate identity, request confirmation, & complete tasks in a trusted way.” AAPL YTD mountain Apple year-to-date. While analysts have questioned Apple’s AI strategy — believing it was worryingly behind many of its “Magnificent Seven” peers — Mohan argued that the company has a big agentic opportunity with its Siri product. He estimates it could represent incremental revenues of between $15 billion to $30 billion by the company’s fiscal 2030. And that’s just his base case: a bullish one would put that range between $40 billion to $65 billion, he said. “In an agentic world, value accrues to the platform that controls user intent, personal context, app access, permissions, identity, authentication, payments, and trust,” Mohan wrote. “To win, Apple needs to evolve Siri into the orchestration layer of the iPhone.”
