Bank of America bullish on Apple (AAPL.US): Service business becoming "second curve", gross profit margin entering long-term uptrend channel.

Wisdom Financial APP learned that Bank of America released a research report, reaffirming a "buy" rating on Apple (AAPL.US) based on stable cash flow, profit resilience, and a strong capital return plan, with a target price of $250. Bank of America pointed out that compared to the iPhone business, Apple's services business will make a greater contribution to gross profit; the level of gross profit margin increase is long-term rather than cyclical, and over time, the gross profit margin will continue to rise to around 50%.