-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
AAPL posted Mar-Q revenue growth of 17% to $111.2B, beating the 15% forecast, with EPS of $2.01 (+22%) above $1.94 consensus. The iPhone 17 cycle demonstrated remarkable strength with revenue reaching a Mar-Q record of $57.0B (+22%), driven by extraordinary demand across all regions, particularly China (+28%). We believe the strong iPhone 17 replacement cycle is supported by both higher average selling prices and units, with solid performance across all geographic segments. Management highlighted exceptional demand for the iPhone 17 lineup as a key driver. Gross margin of 49.3% beat the 48.4% consensus, with Services continuing its impressive trajectory at $31B (+16%). AAPL announced a 4% dividend increase to $0.27 per share and a $100B share repurchase authorization. Although we are impressed by overall results, we think bigger catalysts will come at WWDC in June with AI Siri integration and September's hardware event unveiling the first foldable phone.