Apple (AAPL, Financial) is heading into its fiscal second-quarter earnings with plenty of support from Wall Street, even if a little more caution is creeping in. Price targets have been trimmed slightly, but most analysts are sticking with their Buy ratings.
Brian White at Monness, for example, kept his $260 target, betting on a bounce in iPhone sales and growing momentum in Apple's artificial intelligence efforts. Evercore ISI's Amit Daryanani is holding firm too, keeping a $250 target as he points to strength in Apple's services business and upcoming products.
Some names have pulled back a bit. Bank of America's (BAC, Financial) Wamsi Mohan cut his target to $240, worried about supply chain hiccups and delayed AI rollouts. Wells Fargo's (WFC, Financial) Aaron Rakers trimmed his to $245, mentioning pressure on margins. Even Goldman Sachs (GS, Financial) nudged its target lower, though it's still positive overall.
Not everyone is as bullish. UBS and DBS both now have Hold ratings at $210, citing competition in China and regulatory risks. Still, most on the Street see about 10% to 20% upside ahead, keeping Apple firmly in focus as earnings approach.
