Bank of America analyst Wamsi Mohan reiterated a Buy rating on Apple (AAPL) and maintained a $380 price target, which is approximately 14% above the stock's closing price of $333.43 on July 30. The firm believes investors are misinterpreting Apple's Q3 2026 results, arguing that the underlying business is stronger than headline numbers suggest. BofA attributes Apple's conservative September quarter guidance to production shortages for iPhones, Macs, and iPads, rather than slowing demand. The bank also raised its EPS estimates for Apple for the next three fiscal years, now modeling FY2026 EPS at $8.85, FY2027 at $9.92, and FY2028 at $10.95.