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<Research>BofAS Raises Apple's TP to USD325, Expects Mar Qtr Rev. to Beat Guidance
Recommend 2 Positive 4 Negative 0 |
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Apple (AAPL.US) is set to release its 2QFY26 (March quarter) results after the market's bell on April 30, and the results are likely to beat market forecasts, given continued strength in iPhone sales, double-digit growth in services revenue, and foreign exchange gains, BofA Securities wrote in its research report. In BofA Securities' estimation, Apple's 2FQ revenue and EPS will reach USD113 billion and USD2, respectively, above market expectations of USD109 billion and USD1.93. Gross margin is forecast at 48.2% (company guidance: 48-49%). Due to product mix and rising component costs, however, Apple's gross margin for 3FQ (Jun quarter) is expected to decline QoQ. BofA Securities anticipates Apple will provide 3FQ revenue guidance of 10-15% YoY growth and gross margin guidance of 47-48%. The 3FQ revenue and EPS are projected to hit USD106 billion and USD1.82, above market expectations of USD103 billion and USD1.74. BofA Securities has lifted its target price for Apple from USD320 to USD325, while reiterating a Buy rating. Auto-translated by AI AASTOCKS Financial News |
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