Apple (AAPL) is heading into a critical week, with its upcoming earnings report and a major leadership change both in focus. As CEO Tim Cook prepares to step down later this year, both near-term results and long-term strategy are likely to shape Apple’s stock forecast for 2026. AAPL stock is down by 0.80% in pre-market hours on Tuesday.
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For context, Apple announced that longtime executive John Ternus will become CEO, replacing Tim Cook on September 1. Cook will stay on through the summer to ensure a smooth transition and then move into the role of executive chairman. Ternus, currently Apple’s head of hardware engineering, will also join the board, while current Chairman Arthur Levinson will become lead independent director.
What to Expect from Apple’s Q2 Results
In the near term, investors are focused on Apple’s Q2 earnings on April 30. Key things to watch are iPhone sales, services growth, and guidance, as these will likely move the stock. The iPhone 17 cycle looks strong so far, with better sales in early 2026, driven by demand for both regular and Pro Max models. However, Apple still lags behind its peers in making money from AI. That said, its biggest advantage may lie in the App Store, where it can take a share of revenue as AI-powered apps grow.
Overall, Wall Street expects Apple to report EPS (earnings per share) of $1.94, reflecting over 17% year-over-year growth. Meanwhile, revenue is projected to rise more than 16% to $109.35 billion.
What Lies Ahead for Investors
Along with the upcoming earnings, the leadership shift from Cook to Ternus has added some uncertainty. While Ternus knows the company well, he will take over at a time when Apple is dealing with supply chain issues, geopolitical tensions, tariffs, and rising demand for AI components. Investors will be watching closely to see if there are any changes in strategy, especially around AI, hardware, and spending decisions.
Broadly, Apple’s long-term story remains strong, but near-term volatility is likely. For investors, the key will be balancing solid fundamentals with leadership change risk and earnings expectations.
JPMorgan Reaffirms Buy on AAPL Stock
Following the leadership change announcement, JPMorgan analyst Samik Chatterjee reiterated his Buy rating on AAPL with a $325 price target. He remains positive on the leadership transition, saying the move is a step in the right direction.
Is AAPL Stock a Buy?
On TipRanks, AAPL stock has a consensus Moderate Buy rating among 25 Wall Street analysts. That rating is based on 16 Buys, eight Holds, and one Sell assigned in the last three months. The average AAPL price target of $305.81 implies a 12% upside from current levels.
