Keep an eye on Apple ahead of earnings on April 30.
According to Bank of America analyst Wamsi Mohan, Apple is likely to post strong second quarter results thanks to demand for the iPhone 17.
“As we head into F2Q26 (Mar Q) earnings after market close on Thur., Apr 30th, we see upside to Street estimates given continued strong sales of iPhone, double-digit growth in Services revs and benefit from FX,” he said, as quoted by Seeking Alpha. “Upcoming catalysts include expected new buyback authorization, WWDC (Worldwide Developers Conference) in June, and launch of a foldable iPhone in the fall & [the] launch of an enhanced Siri with integration with Gemini AI which can drive higher upgrades.”
Analysts at Wedbush Securities are also bullish. With an outperform rating and a $350 price target, analyst Daniel Ives added that several Mac mini and Mac Studio models are currently facing shipping delays of two to five months.
In addition, Morgan Stanley has an overweight rating on the stock with a $315 price target, with analyst Erik Woodring noting that, “We expect gross margin downside to be more than offset by revenue upside in the June quarter guide, making for a better than feared earnings and a clearing event into WWDC this June, and the iPhone launch in September,” as quoted by Seeking Alpha.
While the stock is overbought, struggling at overhead resistance, it could break out if earnings and guidance are solid. We’re also waiting to hear about any new innovation and excitement from CEO Tim Cook, who’s stepping down on September 1, and incoming CEO and current hardware engineering vice president, John Ternus.
Sincerely,
Ian Cooper
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