Goldman Sachs on Apple (AAPL): 'Apple should deliver a revenue and EPS beat'
Goldman Sachs analyst Michael Ng reiterated a Buy rating and $251.00 price target on Apple (NASDAQ: AAPL).
The analyst comments "Apple should deliver a revenue and EPS beat, driven by (1) double-digit growth in Services (+11% yoy); (2) strength across Products including iPhones, Mac, iPad, and Wearables; and (3) better-than-expected gross margins reflecting on better tariff-related costs and forex headwinds. Services revenue growth should be resilient, supported by continued acceleration of App Store spending growth despite heightened App Store uncertainty due to the availability of off-platform payment options. Over the next 12-months, iPhone upgrade demand should be supported by heightened US wireless carrier promotional activity and new product innovation including Apple Intelligence and form factor changes (e.g., iPhone 17 Air, iPhone 18 foldable, Exhibit 6). That said, trade policy & tariff uncertainty, as well as risks to AAPL's advertising revenue (e.g., TAC) are near-term overhangs."
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Shares of Apple closed at $214.40 yesterday.