As Apple Inc. (NASDAQ: AAPL) reported its strongest June quarter ever, revealing mixed performance, nearly a dozen Wall Street analysts set their 12-month forecasts.
On July 31, Michael NG, an analyst at Goldman Sachs Group Inc. (NYSE: GS), reiterated a Buy rating for Apple stock. Michael, however, cut his 12-month price target for AAPL stock to $360 from $370.
Apple stock closed Thursday trading at $333.43; however, the shares fell by 7.74% to $307.64 during the pre-market. As such, this expert signals a potential upside of 17.02%.
The bank said the third quarter results for the company’s fiscal 2026, which ended on June 27, were largely in line. However, Michael said that weaker-than-expected Q4 guidance on revenue growth and margins weighed on the outlook.
Nonetheless, Goldman expects sentiment to improve as price increases. Furthermore, the analyst expects new AI features and product launches to support revenue and margins.
Average Apple stock forecast from Wall Street analysts
Earlier on Friday, Brandon Nispel, an analyst from KeyBanc, reiterated a ‘Sell’ rating for AAPL shares. He set a 12-month price target of $250, which represents a possible 25.02% sell-off.
Meanwhile, among the analysts who reiterated a Hold rating for Apple stock earlier today are Barton Crockett at Rosenblatt Securities, David Vogt from UBS, and Laura Martin from Needham.
Consequently, 28 analysts surveyed by TipRanks have set an average 12-month price target of $333.37, which equates to an increase of around 8.36%. Essentially, Wall Street analysts are moderately bullish on this company over the coming 12 months.
AAPL price outlook
After hitting an all-time high of slightly above $344 earlier this week, AAPL price has tumbled over 10%, fueled by the mixed earnings report.
AAPL stock price. Source: TradingView
Moreover, Apple beat Wall Street expectations on revenue, Earnings per share (EPS), operating income, and net income. This was driven by strong demand in iPhone, Mac, and Products growth, amid increased operating cash flow, up 43.1% year-over-year (YoY).
However, the company’s services missed estimates at $30.74 billion against $31.36 billion expected, as iPad revenue fell 5.9% YoY. Apple noted that Greater China’s revenue was $18.82 billion versus a $ 19.58 billion estimate.
As a result, Apple stock outlook over the next 12 months could be affected by the products the company launches in its upcoming September event.
