Bank of America has identified several stocks set to gain from the latest iPhone series.
Tech giant Apple is expected to unveil its new iPhone later this year, and Bank of America has identified several stocks set to gain from the smartphone's evolution. "Following stabilized smartphone demand, we turn positive on Apple supply chain, as we expect material design changes and AI function to drive a more sustainable upcycle in the next 2-3 years," the investment bank's analysts wrote in a June 26 research note.
The bank expects the China-based design and manufacturing giant to see strong margins as demand for its casings increases in tandem with better iPhone shipment cycles between 2025 and 2026. "We lift Foxconn Industrial Internet 's 2024-26E earnings by 2-6% on potentially better iPhone casing sales and strong AI server contribution," the analysts wrote. Foxconn has a dual listing on the Shanghai and Taiwan Stock Exchanges. Its shares are also traded as an ADR in the U.S.
Hon Hai Precision Industry Co Ltd Foxconn Industrial Internet Co Ltd Foxconn Technology Co Ltd Hon Hai Precision Industry Co Ltd Luxshare Precision Industry Co Ltd BYD Electronic International Co Ltd BYD Electronic International Co Ltd Iphone Business News
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