On Thursday, Apple reported Q1 2026 results that beat Wall Street expectations. The company posted record iPhone revenue and shares traded near $263.
iPhone revenue reached $85.3 billion, above $78.3 billion analysts expected (Ed. note: this marked an all-time iPhone revenue high). Sales were up from $69.1 billion in the same quarter last year.
Shares dipped after CEO Tim Cook warned that a global memory crunch would pressure margins. The stock later rose almost 3 percent and was noted at $256 at press time.
Analysts widely expect the stock to clear $270 resistance and reach $300. Wedbush set a $350 target, and Tigress Financial set a $305 target.
The company plans to implement AI features using Google‘s Gemini framework. Analysts say this improves iPhone positioning without heavy new investment.
Greater China sales are projected to grow roughly 15 percent. Services revenue is forecast to rise about 14.1 percent while memory shortages could increase expenses.
