Overview
- Apple reports fiscal Q1 2026 results on Jan. 29, with consensus at about $138.4 billion in revenue and $2.67 in EPS, both roughly 11% higher year over year.
- JPMorgan raised its price target to $315, citing stronger-than-expected iPhone demand and lower operating expenses, and it sees potential 27% upside.
- Morgan Stanley kept an Overweight rating and a $315 target but cautioned shares may trade sideways, forecasting March-quarter opex about 7% above consensus and gross margins roughly 30 basis points below on higher memory costs.
- UBS estimated December iPhone 17 sell-in at approximately 84.5–85.0 million units, supporting expectations that iPhone strength drives the quarter.
- Analyst opinions remain split with an average target near $298, as Jefferies trims its target on slower App Store growth and KeyBanc questions the durability of second-half momentum.