Apple stock is surging today, February 2, 2026, rising approximately 3% in midday trading amid renewed bullish sentiment from Wall Street analysts following the company’s blockbuster fiscal Q1 2026 earnings.

As of around 2:00 PM EST, AAPL was trading at $266.98–$267.02, up roughly $7.50 from Friday’s close of $259.48. The stock opened near $260, dipped to a low of about $259.20, and climbed to a high of $267.14, with trading volume surpassing 35 million shares. This move extends the positive momentum from late January’s earnings release, where Apple reported record revenue of $143.8 billion (up 16% year-over-year) and EPS of $2.84, driven by “staggering” demand for the iPhone 17 lineup, which generated a record $85.3 billion in revenue (up 23%).

Analyst upgrades and price target increases have fueled today’s gains, as firms reassess Apple’s outlook amid strong iPhone momentum, a China rebound, and AI ecosystem potential despite some margin pressures from rising memory costs.

• Wedbush’s Dan Ives maintained an Outperform rating and holds a high price target of $350, emphasizing Apple’s AI catalysts and ecosystem strength.

• JPMorgan’s Samik Chatterjee maintained an Overweight rating and raised the price target from $315 to $325, citing resilient margins and favorable supplier contracts.

• Goldman Sachs’ Michael Ng maintained a Buy rating and lifted the target from $320 to $330.

• Bernstein SocGen reiterated Outperform with a $325 target, aligning with Apple’s guided 13–16% revenue growth for fiscal Q2.

• BofA Securities reiterated Buy at $325, highlighting solid App Store momentum.

• Phillip Securities Research’s Helena Wang upgraded from Reduce to Hold (Neutral) with a $260 target, noting improved fundamentals but caution on valuation and memory cost headwinds.

• Rosenblatt’s Barton Crockett maintained Neutral but raised the target from $250 to $267.

Analyst quotes underscore the optimism:

• Wedbush’s Dan Ives has described 2026 as potentially “the year that Apple finally breaks out” on AI and iPhone cycles.

• In post-earnings commentary, analysts like those at TipRanks highlighted the “powerful iPhone 17 cycle” and “sharp rebound in China,” with one noting Apple’s fastest revenue growth in four years.

• JPMorgan emphasized that higher memory costs are unlikely to significantly hurt margins due to long-term supplier agreements.

• Overall Wall Street consensus remains Moderate Buy, with average price targets around $287–$305, implying 8–15% upside from recent levels.

While some concerns linger around supply constraints (e.g., advanced-node chips and NAND pricing) and regulatory scrutiny, today’s rally reflects investor confidence in Apple’s ability to capitalize on iPhone reacceleration, Apple Intelligence features, and a massive 2.5+ billion active device base.

Punxsutawney Phil saw his shadow this Groundhog Day and predicted six more weeks of winter, but when he peeked at AAPL’s chart, he saw Apple’s stock popping, surging over 2.8% to around $267. No shadow of doubt, looks like an early spring rally for AAPL shareholders!

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Source link: https://macdailynews.com/2026/02/02/apple-stock-surges-3-on-analyst-upgrades-and-bullish-notes/

Apple today announced financial results for its fiscal 2026 first quarter ended December 27, 2025. The Company posted quarterly revenue of $143.8 billion, up 16 percent year over year. Diluted earnings per share was $2.84, up 19 percent year over year.

According to LSEG consensus estimates compiled from Wall Street analysts called for Apple to post revenue of $138.48 billion and earnings per share (EPS) of $2.67. (Apple’s Q125 results: $124.3 billion in revenue and $2.40 EPS.)

“Today, Apple is proud to report a remarkable, record-breaking quarter, with revenue of $143.8 billion, up 16 percent from a year ago and well above our expectations,” said Tim Cook, Apple’s CEO, in a statement. “iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment, and Services also achieved an all-time revenue record, up 14 percent from a year ago. We are also excited to announce that our installed base now has more than 2.5 billion active devices, which is a testament to incredible customer satisfaction for the very best products and services in the world.”

• $85.269 billion (vs. $69.138 billion YoY)
• $8.386 billion (vs. $8.987 billion YoY)
• $8.595 billion (vs. $8.088 billion YoY)
• $11.493 billion (vs. $11.747 billion YoY)
• $30.013 billion (vs. $26.340 billion YoY)

“During the December quarter, our record business performance and strong margins led to EPS growth of 19 percent, setting a new all-time EPS record,” said Kevan Parekh, Apple’s CFO, in a statement. “These exceptionally strong results generated nearly $54 billion in operating cash flow, allowing us to return almost $32 billion to shareholders.”

Apple’s board of directors has declared a cash dividend of $0.26 per share of the Company’s common stock. The dividend is payable on February 12, 2026, to shareholders of record as of the close of business on February 9, 2026.

Apple will provide live streaming of its Q1 2026 financial results conference call beginning at 2:00 p.m. PT on January 29, 2026, at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.

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Source link: https://macdailynews.com/2026/01/29/apple-destroys-the-street-with-all-time-record-q1-revenue-of-143-8-billion/