Apple Rises as BofA Upgrades on Potential From AI, Headset
- The upgrade follows at least three downgrades in January
- Apple stock in negative territory for 2024, lagging peers
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Apple Inc. shares rose on Thursday, after Bank of America upgraded the iPhone maker to buy from neutral, a sign of confidence in the stock following a weak start to the year.
The stock gained 3.3%, its biggest one-day percentage gain since May. It remains down 2% this year, making it one of the weakest performers among the so-called Magnificent 7 megacaps that fueled market gains in 2023.