Goldman Sachs has released a research report predicting that Apple (AAPL, Financial) will exceed market expectations for its fourth fiscal quarter revenue and earnings per share (EPS). The firm forecasts Apple's revenue at $94.5 billion and EPS at $1.61, surpassing market projections of $93.6 billion and $1.57, respectively. This positive outlook is attributed to strong performances in iPhone and services segments.
Goldman Sachs has set a target price for Apple at $275, maintaining a "buy" rating for the stock. Looking ahead to the company's first fiscal quarter of 2025, ending in December, the firm anticipates revenue to be slightly below expectations at $126.7 billion with an EPS of $2.37, compared to the market expectation of $2.39. Stable demand for iPhones, the introduction of new Mac products, and the launch of the iPad Mini are expected to benefit this quarter.
The services segment is projected to continue growing at a mid-teens percentage, supported by long-term increases in app spending, a growing installed base, and higher penetration rates of Apple services.
