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<Research> Citi: Apple Inc. (AAPL.US) 2FQ Results Beat; Raises EPS Forecasts
Citi released a report stating that after Apple Inc. (AAPL.US) reported better-than-expected results for its second fiscal quarter ended March, its share price rose 2% in after-hou...
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<Research> Citi: Apple Inc. (AAPL.US) 2FQ Results Beat; Raises EPS Forecasts
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Citi released a report stating that after Apple Inc. (AAPL.US)      reported better-than-expected results for its second fiscal quarter ended March, its share price rose 2% in after-hours trading. For its third fiscal quarter ending June, the company guided revenue of USD109 billion and EPS of USD1.88, above market expectations of USD103 billion and USD1.74, respectively. Gross margin guidance of 47.5% to 48% was above the market forecast of 47.5%, although product gross margin in the second fiscal quarter contracted 200 bps QoQ due to rising memory component prices.

The report noted that Apple indicated the impact of memory prices will gradually increase throughout the year. Meanwhile, demand for Mac exceeded expectations, driven by AI agent applications, and the company is currently facing supply constraints.

Related NewsCore PPI YoY for Apr in United States is 5.2%, higher than the previous value of 4.0%. The forecast was 4.3%.
Citi lowered its iPhone shipment forecast for 2026 by 2% and raised its 2027 estimate by 10% to 238 million and 261 million units, respectively. The broker lifted its EPS forecasts for 2026 to 2028 by 4%, 2% and 3%, respectively, maintained its TP at USD315, and reiterated its Buy rating. (ha/da)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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