Nuscale Power earnings missed by $0.02, revenue fell short of estimates
Investing.com - Barclays (LON:BARC) raised its price target on Apple (NASDAQ:AAPL) to $180.00 from $173.00 on Friday, while maintaining an Underweight rating on the stock. Currently trading at $207.57, Apple commands a substantial market cap of $3.1 trillion. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with a P/E ratio of 32.46x.
The firm noted that iPhone and Mac sales drove upside in the quarter, with Services performance roughly in line with expectations. This performance contributed to Apple’s impressive revenue of $400.37 billion over the last twelve months, with a healthy gross profit margin of 46.63%. Barclays observed that some of the outperformance was likely driven by tariff-related pull-in for hardware, with management acknowledging approximately one percentage point of benefit from pull-in related spending.
Apple reported growth across all geographic regions during the quarter, not limited to the Americas. Gross margins came in higher than expected despite tariff concerns, with the company still benefiting from select tariff exemptions across portions of its supply chain.
Despite the quarterly beat and slightly higher September quarter guidance, Barclays expressed concerns about second-half momentum, citing a lack of an exciting iPhone cycle and AI differentiation. The firm also raised worries about Apple’s position in China, suggesting potential share loss in the second half due to new Huawei 5G phones and foldable devices from local manufacturers.
Barclays also noted pending decisions regarding Google (NASDAQ:GOOGL)’s traffic acquisition costs and mentioned that third-party payment rulings have been negative for Apple.
In other recent news, Apple Inc. reported its fiscal third-quarter earnings for 2025, surpassing analyst expectations with a revenue of $94 billion and an earnings per share (EPS) of $1.57. The company exceeded forecasts by 5.66% for revenue and 10.56% for EPS. Following these results, BofA Securities raised its price target on Apple to $240 from $235, maintaining a Buy rating. The firm highlighted Apple’s strong quarter and guidance that exceeded consensus across most metrics. Similarly, Morgan Stanley (NYSE:MS) adjusted its price target for Apple to $240 from $235, while keeping an Overweight rating. Morgan Stanley noted Apple’s June quarter performance exceeded expectations in Product, Services, and gross margins. These developments reflect the company’s robust financial health and positive outlook from major financial institutions.
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