Amid demand doubts, Bank of America stands by Apple (AAPL.US)! iPhone Duo pre-orders will be a key test.

Zhito Finance APP has learned that Apple (AAPL.US) shares closed up 1.29% on Monday, pushing its market capitalization close to $5 trillion, and continued to edge higher in overnight trading. Although investors are weighing the market reception of the latest iPhone lineup amid price increases and a phased rollout, Bank of America remains bullish on Apple, maintaining a "Buy" rating and a $370 price target.