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2025-11-03 14:25:43
Goldman Sachs Raises Apple Target Price to $320, Raises Earnings Forecasts for Fiscal Years 2026-28. A research report from Goldman Sachs indicates that Apple's Q4 fiscal 2025 earnings per share beat expectations, with strong performance in its services business completely offsetting weaker-than-expected iPhone performance. iPhone demand was very strong during the period, while revenue shortfalls were primarily due to supply constraints leading to a quarter-on-quarter decrease in channel inventory. Apple management guided Q1 fiscal 2026 revenue growth of 10% to 12% year-over-year, with iPhone revenue growing at double-digit rates and services revenue growing at approximately 14% year-over-year. The bank believes the better-than-expected guidance corroborates strong iPhone demand, and has raised its average earnings per share forecasts for fiscal years 2026-28 by 3%, increasing its target price from $279 to $320, maintaining a "Buy" rating.
