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Apple Inc. (NASDAQ:AAPL) is included among the 10 Innovative Dividend Stocks to Buy Right Now.
UBS expects strong earnings from Apple Inc. (NASDAQ:AAPL) as the company continues to roll out personal devices that remain popular with consumers, even as memory supply remains tight. On April 28, the firm raised its price target on the shares to $287 from $280.The change came two days before Apple reports its fiscal second-quarter results. “Supply chain strength and sustained demand/share gains for the iPhone 17 series should lift iPhone revenue up ~20% YoY,” analyst David Vogt said in a note to clients.
The analyst also expects “solid demand in the US and China leading to ~6% revenue growth or $47.4B vs our prior $43.5B [estimate]” for the June quarter. He said UBS has raised its forecast for iPhone unit sales to 50.3 million from 46.5 million, pointing to memory-driven share gains. Apple uses random-access memory (RAM) to power its devices, including the recently launched iPhone 17 and MacBook Neo. These higher-power memory components have become harder to source as demand rises with the expansion of artificial intelligence. UBS said Apple is starting to work through the supply chain constraints.
Apple Inc. (NASDAQ:AAPL) designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories. It also offers a range of related services. Its product categories include iPhone, Mac, iPad, and Wearables, Home and Accessories.
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