According to Bank of America analysts, Apple’s stock price could benefit from the upcoming iPhone 16 release and the company’s focus on artificial intelligence (AI). The analysts expect a strong upgrade cycle for the iPhone 16, driven by its rumored adoption of a periscope camera lens and potential integration of AI capabilities. Apple’s investments in AI, including its partnership with Google on AI models and the hiring of AI experts, position the company well for the AI revolution. The analysts believe Apple’s AI efforts could lead to new product categories and enhance existing offerings like the iPhone camera and Siri virtual assistant. Additionally, Apple’s services business, which includes iCloud, Apple Music, and the App Store, is expected to continue growing and contribute to the company’s revenue. Overall, Bank of America maintains a “Buy” rating on Apple stock, with a price target of $190.