Soleno Therapeutics tumbles despite Q3 earnings, revenue beat
Investing.com - Evercore ISI raised its price target on Apple (NASDAQ:AAPL) to $300 from $290 while maintaining an Outperform rating following the company’s latest quarterly results. The new target represents potential upside from Apple’s current price of $271.40, which is trading just 1% below its 52-week high of $274.14. According to InvestingPro data, Apple appears overvalued compared to its Fair Value estimate.
Apple reported September quarter results that were in line with expectations, with revenue of $102.5 billion and earnings per share of $1.85, compared to analyst estimates of $102.2 billion and $1.78. The company achieved year-over-year revenue growth of 7.9% with gross margins reaching 47.2%, exceeding the high end of its guidance. This performance continues Apple’s trend of solid profitability, with the tech giant maintaining a 46.7% gross profit margin over the last twelve months.
For the December quarter, Apple provided stronger-than-expected guidance, projecting sales growth of 10-12%, significantly above Wall Street’s expectation of 6%. The company anticipates low-teens services growth and double-digit iPhone segment growth.
Apple expects gross margins to improve to the 47-48% range in the December quarter, representing a 30 basis point increase quarter-over-quarter. The guidance implies December quarter revenue of approximately $138 billion and earnings per share of $2.65, compared to analyst estimates of $132 billion and $2.54.
Evercore ISI noted that some of the earnings upside is being tempered by higher operating expense investments as Apple ramps up development of Siri and AI solutions, which are expected to launch in Spring 2026. Despite these increased investments, Apple continues to generate substantial free cash flow, with the company maintaining dividend payments for 14 consecutive years according to InvestingPro data.
In other recent news, Apple Inc. reported impressive financial results for the fourth quarter of 2025, surpassing analyst expectations. The company achieved earnings per share of $1.85, exceeding the forecasted $1.76, and its total revenue reached $102.5 billion, slightly above the anticipated $101.69 billion. Goldman Sachs responded to these results by raising its price target for Apple stock to $320 from $279, maintaining a Buy rating. The investment firm noted that while iPhone revenue fell short due to supply constraints, demand remained strong. Additionally, Apple’s Services segment showed robust performance, contributing to the overall earnings beat. These developments highlight the company’s resilience in navigating supply chain challenges. Investors and analysts will continue to monitor Apple’s performance closely as it moves forward.
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