$AAPL - BOFA: APPLE FACES TOUGH Q3 SETUP Bank of America sees pressure on Apple ahead of Thursday’s earnings due to tariffs, regulatory risks, and slow AI progress. Still, it keeps a Buy rating and $235 target. Gross margins are in focus, with $900M in tariff costs weighing on results. BofA sees Q3 revenue at $90.2B and EPS at $1.45, slightly above consensus. Looking ahead, margins may improve with new high-end products, including a slim iPhone expected this fall.