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Apple's Fiscal Q2 Earnings Could Beat Street Consensus, BofA Says
Apple's (AAPL) fiscal Q2 earnings could exceed Street estimates on strong iPhone sales, double-digit growth in Services revenue and foreign-exchange tailwinds, BofA Securities said Tuesday in a note.Upcoming catalysts include a new buyback authorization, the Worldwide Developers Conference in June, the launch of a foldable iPhone in the fall, and the launch of an enhanced Siri integrated with Gemini AI, according to the note.The brokerage said it expects strong iPhone demand and raised its iPhone unit estimate for fiscal Q2 to 60 million. It models 14% revenue growth for Services, in line with management's guidance.BofA models fiscal Q2 revenue and earnings per share of $113 billion and $2, respectively, versus Street consensus of $109 billion and $1.93.The brokerage expects fiscal Q3 revenue and EPS of $106 billion and $1.82, compared with Street consensus of $103 billion and $1.74, respectively.It also raised its fiscal 2026 revenue and EPS estimates to $466 billion and $8.55 from $462 billion and $8.36.Apple is scheduled to report fiscal Q2 results on April 30.BofA maintained a Buy rating on Apple and raised its price target to $325 from $320.Price: $259.25, Change: $+0.05, Percent Change: +0.02%
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