Apple stock is surging today, February 2, 2026, rising approximately 3% in midday trading amid renewed bullish sentiment from Wall Street analysts following the company’s blockbuster fiscal Q1 2026 earnings.
As of around 2:00 PM EST, AAPL was trading at $266.98–$267.02, up roughly $7.50 from Friday’s close of $259.48. The stock opened near $260, dipped to a low of about $259.20, and climbed to a high of $267.14, with trading volume surpassing 35 million shares. This move extends the positive momentum from late January’s earnings release, where Apple reported record revenue of $143.8 billion (up 16% year-over-year) and EPS of $2.84, driven by “staggering” demand for the iPhone 17 lineup, which generated a record $85.3 billion in revenue (up 23%).
Analyst upgrades and price target increases have fueled today’s gains, as firms reassess Apple’s outlook amid strong iPhone momentum, a China rebound, and AI ecosystem potential despite some margin pressures from rising memory costs.
Key recent analyst actions include:
• Wedbush’s Dan Ives maintained an Outperform rating and holds a high price target of $350, emphasizing Apple’s AI catalysts and ecosystem strength.
• JPMorgan’s Samik Chatterjee maintained an Overweight rating and raised the price target from $315 to $325, citing resilient margins and favorable supplier contracts.
• Goldman Sachs’ Michael Ng maintained a Buy rating and lifted the target from $320 to $330.
• Bernstein SocGen reiterated Outperform with a $325 target, aligning with Apple’s guided 13–16% revenue growth for fiscal Q2.
• BofA Securities reiterated Buy at $325, highlighting solid App Store momentum.
• Phillip Securities Research’s Helena Wang upgraded from Reduce to Hold (Neutral) with a $260 target, noting improved fundamentals but caution on valuation and memory cost headwinds.
• Rosenblatt’s Barton Crockett maintained Neutral but raised the target from $250 to $267.
Analyst quotes underscore the optimism:
• Wedbush’s Dan Ives has described 2026 as potentially “the year that Apple finally breaks out” on AI and iPhone cycles.
• In post-earnings commentary, analysts like those at TipRanks highlighted the “powerful iPhone 17 cycle” and “sharp rebound in China,” with one noting Apple’s fastest revenue growth in four years.
• JPMorgan emphasized that higher memory costs are unlikely to significantly hurt margins due to long-term supplier agreements.
• Overall Wall Street consensus remains Moderate Buy, with average price targets around $287–$305, implying 8–15% upside from recent levels.
While some concerns linger around supply constraints (e.g., advanced-node chips and NAND pricing) and regulatory scrutiny, today’s rally reflects investor confidence in Apple’s ability to capitalize on iPhone reacceleration, Apple Intelligence features, and a massive 2.5+ billion active device base.
MacDailyNews Take: Punxsutawney Phil saw his shadow this Groundhog Day and predicted six more weeks of winter, but when he peeked at AAPL’s chart, he saw Apple’s stock popping, surging over 2.8% to around $267. No shadow of doubt, looks like an early spring rally for AAPL shareholders!
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
• JPMorgan’s Samik Chatterjee maintained an Overweight rating and raised the price target from $315 to $325, citing resilient margins and favorable supplier contracts.
Would be lovely if it’s $325 .