apple inc. (NASDAQ: AAPL ) set several company records, with first-quarter financial results that topped analysts’ expectations. Here’s where analysts think the stock will go next.
Wedbush Analyst Dan Ives Maintain an outperform rating on Apple with a price target of $350.
Rosenblatt analyst barton crockett Maintain neutral rating and raise price target to $267 from $250.
Goldman Sachs Analyst Michael Wu Maintain buy rating and raise price target to $330 from $320
DA Davidson Analyst Gil Luria Maintain neutral rating, target price of $270
JP Morgan Analyst Samik Chatterjee Maintain Overweight rating and raise target price to $325 from $315.
Needham Analyst Laura Martin Maintain hold rating with no price target.
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Ives said he hopes artificial intelligence will be “on Apple’s menus soon.” The analyst said that more details about Apple’s AI roadmap are expected to be announced at the company’s WWDC in June.
“While integration into Siri has taken longer than we expected, the release of Gemini is a necessary step for Apple to offer its own personal assistant within its hardware ecosystem,” Ives said.
The analyst said Apple could bring new subscription-based revenue streams to its 2.5 billion users around the world.
“We believe Apple stock is not factoring in an ‘AI premium’ that could be worth $75 to $100 per share at current prices.”
A record-breaking strong quarter for Apple and the iPhone is great, but Crockett expressed doubts about how long demand can last.
“History suggests this strong iPhone cycle will likely continue this year and then normalize,” Crockett said.
The analyst also highlighted that supply constraints could limit Apple’s future upside.
“CEO Tim Cook said it was unclear when supply constraints would become clear. But he would not quantify how much of an impact it would have on sales.”
Crockett said iPhone demand and sales are similar to past iPhone launches and are considered a replacement cycle. These strong launches tend to be accompanied by slower growth.
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Ng said in a new investor note that the strong quarter and guidance could mask cost inflation concerns.
The analyst said supply constraints also limited Apple’s upside this quarter.
“Given these SOC (system-on-chip) limitations, we believe Apple is more likely to delay the release of iPhone 18-based models and iPhone Air 2 from fall 2026 to spring 2027,” Ng said.
The analyst said Apple’s guidance for second-quarter operating expenses will mark the first sequential increase in Apple’s second-quarter operating expenses.
With operating expenses rising and memory prices likely to rise, analysts are cautious about future profit margins.
Luria said in a new investor note that iPhone growth was “significant” in the first quarter.
The analyst said Apple Intelligence was a highlight of the quarter.
“Mr. Cook noted that the majority of enabled iPhones are now actively using Apple Intelligence, while highlighting features that have been released since launch,” Luria said.
The analyst said Apple Intelligence could become a “bigger factor” in consumers’ future purchases.
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Chatterjee said in a new investor note that the strong record quarter showed Apple’s execution lead and should “calm nervous investors.”
“Hybrids are a tailwind in the broader growth in iPhone demand compared to previous years, which suggests more consumers are opting for the premium mix, including Pro and Pro Max,” Chatterjee said.
The analyst said this could appease investors’ concerns about rising prices for the upcoming iPhone 18.
“As investors look ahead, it’s important to note that strong revenue momentum, coupled with visibility of near-term product gross margin elasticity, will drive higher consensus earnings estimates.”
In a new investor note, Martin emphasized that there was no huge reaction in Apple stock.
The analyst said upside for Apple stock may be limited due to margin compression and constraints on artificial intelligence growth.
“AAPL is working with GOOGL to build its AI base model. We believe this is selling its soul/future to the devil,” Martin said.
The analyst believes that Apple should pay Anthropic more to ensure that its data is not known to one of its main competitors. letter (Nasdaq: Google)
Martin said the alphabet and amazon.com (NASDAQ: AMZN ) is able to improve its own products as well as its cloud business, which it can charge other companies for. Apple can only use GenAI to improve its ecosystem.
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