Apple earnings after close: Wall Street eyes AI roadmap and iPhone sales
Apple will report fiscal first-quarter results after the closing bell on Thursday, and Wall Street is focused on the company’s AI roadmap and iPhone sales. Results are due shortly after markets close, with the analyst call expected to begin around 5 p.m. ET; Apple shares are down about 7% year to date.
Investors are watching whether Apple’s recent partnership with Google’s Gemini will move the needle: the deal helped push Alphabet to a $4 trillion market cap, but the impact on Apple shares has so far been muted. Concerns persist that Apple has lagged in the AI race even as CEO Tim Cook previously said Q1 would be the best-ever quarter for revenue.
Analysts are divided on near-term market reaction. Morgan Stanley’s Erik Woodring said he expects weak stock action after the print if iPhone sales underwhelm, but remained bullish for the year with a $315 price target, citing planned upgrades including a Siri/Apple Intelligence relaunch in February 2026 and WWDC in June, plus an upcoming foldable iPhone and a 2nm-powered iPhone family.
Goldman Sachs’ Michael Ng said he expects results largely in line with consensus and set a $320 price target, viewing recent weakness as a buying opportunity if the market embraces Apple’s AI strategy. Wedbush’s Dan Ives urged investors to look for AI updates and said an "AI premium" — which he estimated could be worth $75–$100 per share — is not yet priced into Apple stock.
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