The top pick of BofA for 2024 is Apple stock. This is the reason
Apple (NASDAQ:AAPL) has seen a recent decline in price, but Bank of America (BofA) remains optimistic about the tech giant and has ranked it as one of its top picks for 2024. This occurs together with the wider market experiencing a correction. BofA goes into detail in the note as to why it anticipates a robust June guide from the iPhone manufacturer and what factors to watch out for the remainder of the year. What causes the downturn in Apple stock The price of Apple's shares has recently declined, falling more than 5% in the most recent trading week and more than 11% this year. There are other factors at work in this retreat. Apple's stock has surely been harmed by the wider market drop. Investors may be retreating from riskier assets, such as technology equities, during a slump as they become more cautious. Nonetheless, this year's decrease in the price of Apple shares has more precise causes. Demand for iPhones is a factor; investors are worried about Apple's pot
