Apple Shares Jump 3% on Strong iPhone, Mac Demand
SkimNews Take
Strong demand for premium devices is allowing Apple to project robust growth despite broader market pressures and component cost increases.
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- Apple posted Q2 revenue of $111.18 billion, up 17% YoY, beating analysts' $109.66 billion estimate.
- Tim Cook highlighted record demand for the iPhone 17 lineup and the newly launched MacBook Neo, calling the iPhone series “the most popular lineup in our history.”
- Morgan Stanley lifted its FY EPS forecast to $8.89 from $8.63, citing the stronger guidance and margin outlook.
- KeyBanc noted Apple’s gross‑margin target of 47.5‑48.5% for the June quarter, saying it “does not show the expected memory price crunch.”
- LSEG reported analysts had expected 9.5% revenue growth for Q3, but Apple now projects 14‑17% growth.
Why it matters: Apple shareholders gain as the stock climbs over 3% and earnings forecasts rise, while memory‑chip suppliers face tighter pricing pressure; the higher guidance will drive increased capital allocation to Apple’s hardware pipeline.
