# Bank of America raises Apple price target on agentic AI > Source: > Published: 2026-05-26 12:42:50.830626+00:00 Photo: static.seekingalpha.com · rights & takedowns Reporting by Seeking Alpha on May 26, 2026, notes that Bank of America analyst Wamsi Mohan raised his price target on Apple to $380 from $330 and reiterated a Buy rating. Seeking Alpha reports Mohan argues that an agentic AI era would favor platforms that control user intent, context, app access, identity, payments, and trust; he wrote that the smartphone is the scaled consumer device where these factors converge. Mohan told clients that Apples advantage would stem from its Apple silicon and iOS , and that a redesign of Siri into an agentic assistant could add $15B-$30B in fiscal 2030 revenue, or $40B-$65B under broader adoption, according to Seeking Alpha. Seeking Alpha also reports shares rose about 0.5% in premarket trading after the note. What happened Reporting by Seeking Alpha on May 26, 2026, states that Bank of America analyst Wamsi Mohan raised his price target on Apple to $380 from $330 and reiterated a Buy rating. Seeking Alpha quotes Mohan saying that in an "agentic world, value accrues to the platform that controls user intent, personal context, app access, permissions, identity, authentication, payments, and trust." Seeking Alpha additionally reports that Apple shares rose about 0.5% in premarket trading following the note. Technical details Seeking Alpha attributes Mohan's view that Apples edge in an agentic AI era would come from Apple silicon and iOS . Per Seeking Alpha, Mohan wrote that Apple's silicon matters for latency, reliability, privacy, and costs, and that delivery of a robust AI experience will rely on a mix of on-device compute, Private Cloud Compute , and third-party compute. Editorial analysis - technical context Companies and practitioners building agentic assistants commonly evaluate hybrid compute stacks combining on-device models for latency and privacy with cloud-based models for scale. Observed patterns in the sector show these architectures increase complexity in model placement, update delivery, and cost allocation across devices and cloud providers. For product teams, hybrid stacks typically require tighter coordination between OS-level capabilities, SDKs, and developer APIs. Industry context Industry observers note that platforms which control identity, payments, and app distribution can extract outsized value if AI assistants become primary user interfaces. Reporting frames Mohans revenue scenarios for an agentic Siri - $15B-$30B in fiscal 2030 under base adoption and $40B-$65B under broad adoption-as illustrative analyst projections rather than company guidance. What to watch Observers will monitor Apple announcements for a Siri redesign, developer APIs exposing assistant workflows, partnerships on private-cloud or model-inference services, and any disclosures about compute strategy (on-device vs cloud). Also watch for follow-up analyst notes and Apple filings or statements for confirmation; Seeking Alpha does not report a direct Apple statement on rationale. Scoring Rationale This is a notable analyst note linking Apples platform advantages to potential AI-driven revenue upside. It matters for practitioners tracking product and compute strategy, but it is an analyst projection rather than a company announcement. More Agentic AI news → Practice with real Banking data 90 SQL & Python problems · 15 industry datasets Used by DS/ML engineers at top companies Suspicious Online Transactions Easy Delinquent Loans Over 30 Days Medium Credit Card Utilization Risk Report Hard 250 free problems · No credit card See all Banking problems