Apple's stock earnings are set to drop after the market closes on Thursday, April 30, and Wall Street is closely monitoring every potential signal. Analysts expect second-quarter revenue to be around $109.5 billion. Earnings per share are projected to range between $1.92 and $1.94, a significant increase from $1.65 in the same period last year. As of now, Apple's stock is trading at approximately $270, with options pricing suggesting a potential swing of up to 4% following the earnings call. This level of volatility could push the stock close to its all-time high of $286 set in December last year, or below $260.
Apple stock price targets, forecasts, and earnings call outlook
Goldman Sachs and Bank of America maintain bullish outlooks
Most major banks have a generally bullish outlook on Apple stock. Goldman Sachs analyst Michael Ng has set a target price of $330 for Apple stock, with an expected EPS of $2, above Wall Street’s consensus forecast. His team anticipates revenue from both the iPhone and Mac to exceed expectations, with gross margins remaining solid.
Bank of America set Apple's target price at $325 and expects Apple's earnings to significantly exceed expectations. The bank raised its target price ahead of Apple's earnings report, citing strong iPhone momentum and an AI-driven upgrade cycle as key near-term growth drivers. Additionally, Apple's services revenue is expected to maintain double-digit growth through 2026.
Bank of America analysts say:
Upcoming catalysts include an expected new share repurchase authorization, WWDC in June, the fall launch of a foldable iPhone, and the release of an enhanced Siri integrated with Gemini AI, all of which could drive higher upgrade rates.
JPMorgan maintains its target price but is closely monitoring leadership changes.
JPMorgan analyst Samik Chatterjee maintained a $325 price target ahead of Apple’s earnings call, with his team expecting strong demand for the iPhone and Mac. However, his interpretation of this quarter focused more on the CEO transition than on specific financial results.
Samik Chatterjee wrote in a report to investors:
The key points of the earnings call will be the planned transition of the CEO role to John Turner on September 1, and the potential impact of Apple’s changes in its hardware and services strategy.
This is Apple's first earnings report since it announced that hardware engineering chief John Ternus will succeed Tim Cook in early September. Dan Ives of Wedbush Securities holds the most optimistic target price for Apple stock at $350 and noted that this earnings release is a critical moment for investors.
With Cook stepping down as CEO, this earnings call is significant for Apple. Investors will closely watch Cook’s remarks on his departure and any hints about the highly anticipated AI strategy under Juniper.
UBS maintains a neutral rating as Apple is set to release its earnings report.
Not everyone has the same prediction for Apple's stock movement on Thursday. UBS analyst David Vogt maintained a neutral rating and raised Apple’s target price from $280 to $287. His team expects Apple’s earnings to slightly exceed estimates and holds an optimistic outlook for the second quarter. However, risks such as the adoption of Apple Intelligence and slowing growth in the App Store may still limit short-term upside for Apple’s stock price. Currently, 42 analysts are tracking the stock, with a consensus rating of “moderate buy” and an average target price of approximately $305, indicating about a 12% upside from current levels.