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Investing.com - Evercore ISI has removed Apple (NASDAQ:AAPL) from its Tactical Outperform list on Friday following the company’s September quarter earnings release and December quarter guidance. The tech giant, currently trading at $271.64, has reached a new 52-week high with shares now trading at a P/E ratio of 41.28.
The research firm noted that Apple stock has risen approximately 7.5% since being added to the tactical outperform list about two weeks ago, compared to the S&P 500’s gain of roughly 2.6% during the same period.
Apple reported solid September quarter results with revenue increasing 7.9% year-over-year, including 15% growth in Services revenue, which showed broad-based strength across its offerings. This outpaces Apple’s trailing twelve-month revenue growth of 5.97%, with the company generating $408.62 billion in total revenue.
The December quarter guidance was particularly impressive, with Apple projecting overall revenue growth of 10-12%, reflecting double-digit iPhone segment growth and low-teens Services growth, while also guiding gross margins higher sequentially.
Despite removing Apple from its tactical list, Evercore ISI maintained its Outperform rating and $300 price target on the stock, continuing to view Apple as one of its top picks.
In other recent news, Apple has reported its fourth-quarter 2025 earnings, which surpassed both top and bottom-line expectations, despite a slowdown in iPhone revenue growth compared to the previous quarter. UBS has responded by raising its price target for Apple to $280 from $220, maintaining a Neutral rating. The firm noted that iPhone revenue grew 6% to $49 billion, slightly below its estimate, due to supply constraints. DA Davidson also increased its price target to $270 from $250, citing the earnings beat but maintaining a Neutral rating.
Rosenblatt has raised its price target to $250 from $241, highlighting Apple’s fiscal first-quarter 2026 revenue guidance, which exceeded analyst forecasts. Jefferies upgraded Apple’s stock rating from Underperform to Hold, increasing its price target to $246.99 from $203.07, following a September quarter revenue growth of approximately 8%. Evercore ISI maintained its Outperform rating with a $300 target, though it removed the stock from its Tactical Outperform list after the earnings release. These developments reflect a mixed but generally positive sentiment from analysts on Apple’s recent performance and future prospects.
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