"BofA Upgrades Apple Stock to Buy on Vision Pro and Generative AI Growth Catalysts"

Bank of America analyst Wamsi Mohan upgraded Apple's stock from Neutral to Buy, citing the potential for a stronger multi-year iPhone upgrade cycle driven by generative AI features and the upcoming launch of the Vision Pro headset. Mohan also expects better growth in Apple's services business and manageable risks around potential legal issues. The upgrade comes after downgrades from other analysts due to slowing iPhone sales, especially in China, where Apple faces increased competition from homegrown tech companies like Huawei and Xiaomi. Apple's performance and outlook for the Vision Pro will be revealed when the company announces its first quarter earnings on Feb. 1.