Gronghui April 24 | Bank of America Securities issued a report that Apple's operating income and earnings per share for the fiscal quarter ending at the end of March were higher than market expectations. Mainly because the bank expects the company's Vision ProCrashbandicoot4it'sabouttimeswitchSales could be as high as $1 billion, but market forecasts are not expected. However, in view of the weak demand, the bank raised its iPhone sales forecast for the fiscal third quarter ending June from the original 4.Crashbandicoot4it'sabouttimeswitch3 million units were reduced to 40 million units, while the market is expected to have 43.6 million units. The bank also forecasts that Apple's third-quarter revenue and earnings per share will be $81.7 billion and $1.32, while the market is expected to be $83.8 billion and $1.33. The bank said that although the demand environment is weak, the company's share price has reflected this. The bank's overall forecast for Apple this year remained unchanged, mainly due to the advantages of GenAI, higher gross margin and service momentum. BofA Securities cut Apple's revenue forecast and earnings per share forecast for the fiscal year ended September 2024 to $393 billion and $6.68, respectively. The company is expected to receive a new license of $90 billion. In addition, the bank also simulated that the company would increase its dividend by 5% from the June quarter. This is mainly because Apple is still committed to achieving net cash neutrality. BofA Securities expects the company's cash flow to remain strong and defensive, with free cash flow expected to be $100 billion and $108 billion for fiscal years 2024 and 2025, respectively. The bank maintained Apple's target price at $225 and reiterated its "buy" rating as the top choice for the year.