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FINWIRES

Research Alert: CFRA Maintains Buy Opinion On Shares Of Apple Inc.

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target at $310, on P/E of about 32x our CY 27 view of $9.70, above historical/peers to reflect EPS upside from AI and foldables. After posting better than expected Mar-Q and Jun-Q guide, we lift our FY 26 EPS to $8.66 from $8.55 and FY 27 to $9.50 from $9.36. AAPL guided for Jun-Q revenue growth of 14%-17%, well ahead of our 9% view, despite supply constraints for Mac models and rising memory component costs. We like growth prospects tied to Apple Intelligence and emerging markets like India while the successful launch of the MacBook Neo at attractive price points demonstrates AAPL's ability to capture new customer segments (e.g., education and value-conscious consumers). Enterprise market traction and Services expansion are positives, including the Apple Business platform and ads in Apple Maps. While AAPL made the decision to abandon the "net cash neutral" target, a framework in place since 2018, we see buybacks remaining a priority while it also has more flexibility for investments.

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