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Apple Beats Forecast, BofA Raises Target to $330

5/5/2026

47 8 Full Breakdown

Summary

Story summary

Apple posted March-quarter results that beat estimates, prompting Bank of America to raise its price target to $330.
March-quarter sales rose 16.6% to $111.2 billion, surpassing Wall Street’s $109.3 billion forecast.
iPhone revenue jumped 21.7% to $57 billion, driven by the iPhone 17 family and record upgraders.
Bank of America warned of a slower iPhone cycle, tariff pressures and a strong dollar despite the earnings beat.

History

Historical Context

Apple introduced the iPhone in 2007, and by 2011 it had sold 100 million units, making the handset a core revenue driver (53% of FY-2012 earnings). Tim Cook’s tenure kept sales rising, leading to a 21.7% iPhone revenue jump to $57 billion in the March-quarter, pressuring rivals such as Samsung and shaping analysts’ forecasts.

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Story summary

Apple posted March-quarter results that beat estimates, prompting Bank of America to raise its price target to $330.
March-quarter sales rose 16.6% to $111.2 billion, surpassing Wall Street’s $109.3 billion forecast.
iPhone revenue jumped 21.7% to $57 billion, driven by the iPhone 17 family and record upgraders.
Bank of America warned of a slower iPhone cycle, tariff pressures and a strong dollar despite the earnings beat.

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