Apple (NASDAQ: AAPL) posted stronger-than-expected fiscal second-quarter 2026 results on April 30, reporting record revenue and earnings fueled by resilient iPhone demand.
To this end, a majority of Wall Street analysts remain bullish on the stock’s outlook 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 have gained more than 5%.
Apple earnings breakdown
The technology giant reported quarterly revenue of $111.2 billion for the period ended 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 analyst forecasts of about $1.94 to $1.95.
Growth was driven by strong iPhone demand, with the segment generating about $57 billion in revenue, while Apple’s Services business reached a record of roughly $31 billion. Gross margin came in at 49.3%, ahead of expectations, while net income totaled about $29.6 billion.
Apple also approved a new $100 billion share buyback program and raised its dividend by 4%, marking its 14th consecutive annual increase.
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 active devices and strong performance across key markets.
Wall Street take on Apple stock price
Meanwhile, Wall Street analysts turned more bullish on Apple following the company’s stronger-than-expected fiscal second-quarter 2026 earnings report.
Among the most optimistic firms, Melius Research raised its target price from $350 to $355 without listing a rating. Goldman Sachs increased its target from $330 to $340 and maintained a ‘Buy’ rating, while TD Cowen lifted its target from $325 to $335 with a ‘Buy’ rating.
Morgan Stanley raised its target from $315 to $330 and reiterated an ‘Overweight’ rating, while BofA Securities increased its target from $325 to $330 with a ‘Buy’ rating. Evercore ISI reiterated its ‘Outperform’ rating and maintained a $330 target.
On the other hand, Seaport Global raised its target from $320 to $330 with a ‘Buy’ rating. Baird lifted 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 target price, while KeyCorp maintained a ‘Sector Weight’ rating with no target provided.
