Apple (AAPL), the iPhone maker, will report its quarterly results after the closing bell on Thursday, April 30. The company has had a slow start to the year, with the stock slightly down year-to-date as rising component costs and AI-driven supply issues weigh on sentiment. Much of the concern centers on surging DRAM prices, which could pressure margins and impact demand.
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Still, Goldman Sachs analyst Michael Ng believes it may be time to look past these worries. He argues that Apple remains in a strong position, supported by solid demand for high-end iPhones and continued market share gains in China. The company is also actively securing DRAM supply, which could help manage costs and protect margins.
Looking ahead, Ng expects Apple to post earnings per share of $2.00, above the Street’s $1.93 estimate. He sees upside coming from iPhone and Mac sales, along with better margins and a favorable currency backdrop.
At the same time, Apple’s Services business continues to grow steadily. While App Store growth may remain modest, areas like iCloud+, AppleCare+, and advertising are expected to support overall revenue growth of around 14%.
The next key catalyst is Apple’s aggressive move into AI. Investors are locking their eyes on WWDC 2026 (June 8–12), where the company is expected to debut a completely redesigned, chatbot-like Siri. Beyond software, attention is also on the 2026 hardware cycle, with growing speculation about a high-end foldable iPhone, possibly branded as an “iPhone Ultra.”
For now, Ng maintains a Buy rating with a $330 price target, suggesting the recent weakness could be an opportunity rather than a warning sign.
What Is the Price Target for AAPL?
Turning to Wall Street, AAPL stock has a Moderate Buy consensus rating based on 16 Buy, eight Hold, and one Sell recommendations. The average Apple stock price target of $304.85 implies an upside potential of 12.81%.
