apple (NASDAQ: Image of AAPL) posted stronger-than-expected results in the second quarter of 2026 on April 30, reporting revenue and earnings boosted by steady demand for the iPhone.
To this end, many Wall Street experts remain fixated on about stock prospects for the next 12 months. Thanks to the earnings, AAPL stock performed well, closing Friday’s session at $280, up more than 3% on the day. Over the past week, Apple shares gained more than 5%.
Damage to apples
The art The giant reported revenue of $111.2 billion for the quarter ended March 28, up 17% year over year and Wall Street estimates of $109.7 billion. Diluted earnings per share rose 22% year over year to $2.01, beating analysts’ estimates of $1.94 to $1.95.
Growth was driven by strong demand for the iPhone, a segment that generated revenue of about $57 billion, while Apple Services business reached about $31 billion. Gross margin came in at 49.3%, ahead of expectations, while total revenue totaled $29.6 billion.
Apple also approved a new program to buy back 100 billion shares and raise its dividend by 4%, which shows an increase of 14 consecutive years.
The results come as CEO Tim Cook prepares to step down after more than a decade at the helm. During the earnings call, Cook highlighted Apple’s installed base of more than 2.5 billion devices and strong performance in key markets.
Wall Street picks up Apple’s stock price
Meanwhile, Wall Street analysts have turned on Apple following a stronger-than-expected report for the company’s second-quarter 2026 earnings.
Among the optimistic companies, Melius Research raised its price target from $350 to $355 without mentioning it. Goldman Sachs increased their 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 raised its target from $315 to $330 and reiterated ‘Overweight’, while BofA Securities increased its target from $325 to $330 with a ‘Buy’ rating. Evercore ISI reiterated its ‘Outperform’ rating and maintained a price target of $330.
On the other hand, Seaport Global raised its price 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 target of $270, while Barclays raised its target from $248 to $253 but maintained an “Underweight” rating.
Meanwhile, Raymond James reiterated a ‘Market Perform’ rating with no target price, while KeyCorp maintained a ‘Sector Weight’ rating with no target given.
