Apple (AAPL) reported its best second quarter ever, with strong revenue and profit growth driven by high demand for the iPhone 17 lineup and continued strength in Services. Earnings per share increased 22% to $2.01, which beat the consensus estimate of $1.95 per share. In addition, Q2 revenue rose 16.6% to $111.2 billion and surpassed analysts’ expectations of $109.46 billion.
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CEO Tim Cook said, “iPhone achieved a March quarter revenue record, fueled by such extraordinary demand for the iPhone 17 lineup.”
Is AAPL Stock a Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 17 Buys, nine Holds, and one Sell assigned in the past three months. Further, the average AAPL price target of $299.80 per share implies 9.2% upside potential. However, it’s worth noting that estimates will likely change following today’s earnings report.
