apple (Nasdaq: Apple) announced stronger-than-expected financial results for the second quarter of 2026 on April 30, posting record revenues and profits supported by resilient iPhone demand.
To this end, the majority of Wall Street analysts remain optimistic about… Stocks Forecasts for the next 12 months. In the wake of the earnings, AAPL stock reacted positively, closing Friday’s session at $280, up more than 3% on the day. Over the past week, Apple shares rose more than 5%.
Apple’s profits collapse
the technology The giant company reported quarterly revenue of $111.2 billion for the period ending March 28, up 17% year over year and above Wall Street estimates of roughly $109.7 billion. Diluted earnings per share rose 22% annually to $2.01, beating analysts’ expectations of $1.94 to $1.95.
Growth was driven by strong demand for iPhones, with the segment generating revenue of about $57 billion, while Apple’s services business reached a record high of about $31 billion. Gross profit margin was 49.3%, exceeding expectations, while net income was approximately $29.6 billion.
Apple also approved a new $100 billion stock buyback program and raised its dividend by 4%, marking its 14th consecutive annual increase.
These results come as CEO Tim Cook prepares to step down after more than a decade at the helm of the company. During the earnings call, Cook highlighted Apple’s installed base of more than 2.5 billion active devices and strong performance in key markets.
Wall Street is dealing with Apple’s stock price
Meanwhile, Wall Street analysts have become more optimistic about Apple after the company’s fiscal second-quarter 2026 earnings report was stronger than expected.
Among the most bullish companies, Melius Research raised its price target from $350 to $355 without including a rating. Goldman Sachs TD Cowen raised its target from $330 to $340 and maintained a “buy” rating, while TD Cowen raised its target from $325 to $335 with a “buy” rating.
Morgan Stanley It raised its target from $315 to $330 and reiterated an “overweight” rating, while BofA Securities raised its target from $325 to $330 with a “buy” rating. Evercore ISI reiterated its ‘outperform’ rating and maintained its $330 target.
On the other hand, Seaport Global raised its target from $320 to $330 with a “buy” rating. Baird raised its target from $300 to $310 while maintaining an “outperform” rating, and Wells Fargo increased its target from $300 to $310 with an “overweight” rating.
DA Davidson reiterated a ‘neutral’ rating with a $270 target, while Barclays raised its target from $248 to $253 but maintained an ‘underweight’ rating.
Meanwhile, Raymond James reiterated a “market perform” rating without a price target, while KeyCorp maintained a “sector weight” rating without offering any target.
