Wedbush Reaffirms Outperform Rating for Apple (NASDAQ:AAPL)

Key Points

• Wedbush reaffirmed its Outperform rating on Apple and kept a $400 price target, implying about 28.5% upside from the prior close.
• Apple’s latest earnings beat expectations, with $2.01 EPS on $111.18 billion in revenue, while revenue rose 16.6% year over year.
• Analyst sentiment remains broadly positive: Apple has a Moderate Buy consensus rating and a $312.82 consensus price target, supported by multiple recent bullish or upbeat analyst calls.

Apple (NASDAQ:AAPL - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Wedbush in a research note issued on Friday,Benzinga reports. They currently have a $400.00 target price on the iPhone maker's stock. Wedbush's price target suggests a potential upside of 28.52% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Rosenblatt Securities raised their target price on Apple from $268.00 to $276.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Bank of America reiterated a "buy" rating and issued a $380.00 price target (up from $330.00) on shares of Apple in a research note on Tuesday, May 26th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Friday, May 1st. TD Cowen restated a "buy" rating and set a $335.00 price objective (up from $325.00) on shares of Apple in a research report on Friday, May 1st. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $312.82.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $311.24 on Friday. The firm has a 50 day moving average of $280.29 and a 200-day moving average of $271.11. Apple has a 12 month low of $195.07 and a 12 month high of $316.94. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $4.57 trillion, a PE ratio of 37.63, a PEG ratio of 2.70 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $1.65 EPS. On average, equities research analysts predict that Apple will post 8.74 EPS for the current fiscal year.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the business's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the sale, the chief executive officer directly owned 3,280,418 shares of the company's stock, valued at $833,980,668.14. The trade was a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 97,759 shares of company stock valued at $24,964,305 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AAPL. Evansbrook LLC lifted its stake in Apple by 0.4% in the 1st quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker's stock valued at $2,054,000 after purchasing an additional 34 shares during the last quarter. JMG Financial Group Ltd. grew its stake in shares of Apple by 0.7% during the first quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock worth $1,295,000 after buying an additional 35 shares during the last quarter. Reyes Financial Architecture Inc. increased its holdings in shares of Apple by 0.4% during the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock worth $2,520,000 after buying an additional 37 shares in the last quarter. WESPAC Advisors LLC increased its holdings in shares of Apple by 0.3% during the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock worth $3,351,000 after buying an additional 39 shares in the last quarter. Finally, Interactive Financial Advisors Inc. lifted its stake in shares of Apple by 4.0% in the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock valued at $286,000 after acquiring an additional 40 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: WWDC is expected to spotlight major Siri and Apple Intelligence upgrades, raising hopes that Apple can finally deliver a more competitive AI experience and spark a longer-term product cycle. What to REALLY Pay Attention to at WWDC26
• Positive Sentiment: Apple’s App Store update showed more than $1.4 trillion in developer sales and billings last year, reinforcing the strength of its Services ecosystem and suggesting durable monetization even as most transactions do not carry a commission. Apple touts $1.4 trillion in App Store billings and sales, 90% without a commission
• Positive Sentiment: Foxconn, Apple’s top iPhone assembler, raised its second-quarter outlook, which can be read as a constructive signal for demand and manufacturing activity around Apple hardware. Taiwan's Foxconn raises guidance for second-quarter outlook
• Positive Sentiment: Several analysts remain constructive on Apple heading into WWDC, with Goldman Sachs reiterating a Buy and Morgan Stanley highlighting the event as an important catalyst for the stock. Here Is What Morgan Stanley Has to Say Ahead of Apple’s (AAPL) WWDC 2026 Event?
• Neutral Sentiment: Apple is reportedly working with Google cloud infrastructure and Nvidia chips to revamp Siri, underscoring ambition in AI but also hinting that Apple may still be leaning on outside partners for critical capabilities. Apple Taps Google to Prep Siri For September Revamp
• Neutral Sentiment: Apple also approved Poke as the first AI agent on its Messages for Business platform, a modest sign that third-party AI tools are beginning to expand inside Apple’s ecosystem. Apple approves Poke as the first AI agent on its Messages for Business platform
• Negative Sentiment: UBS warned that App Store growth is slowing, which could pressure expectations for Apple’s high-margin Services segment if the trend continues. Investors Should Worry About Apple’s (AAPL) Decelerating App Store Growth, Says UBS
• Negative Sentiment: Reports that Apple may scrap a Vision Pro successor in favor of smart glasses suggest a strategic reset in mixed reality, which could be viewed as a setback for near-term headset ambitions. Apple to Scrap Vision Pro Successor and Focus on Smart Glasses

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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