Apple remains in focus on Tuesday after GF Securities reported that a recent survey of the company’s supply chain points to a “solid outlook.”
Chris Ciaccia for Seeking Alpha:
“Following the earnings call on Jan. 29, 2026, we did a supply chain research which indicates strong iPhone build momentum (incl. 2H26’s models) as well as cost management aiming to keep the starting selling prices of iPhone 18 Pro/Pro Max unchanged or at [a] similar level of iPhone 17 Pro/Pro Max,” analyst Jeff Pu wrote in a note to clients. “Additionally, [the] Gemini partnership is to work on the Apple foundational model to power the Apple Intelligence, including the personalized Siri, which is the next key to watch in WWDC 2026.”
Delving deeper, Pu said the upcoming fiscal third-quarter should see another “strong” iPhone build, with around 54M units, which would suggest a year-over-year acceleration.
“For 2H26, we note that Apple is expected to launch 3 new iPhone 18 models (Pro, Pro Max, Fold), compared to 4 iPhone 17 models a year ago,” Pu added. “Yet, we expect a solid iPhone 18 build plan in 2H26 of 82m, compared to 89m of iPhone 17 in 2H25, despite [a] much higher [average] selling price. We attribute the key drivers to the new foldable model and Apple’s strategy of keeping iPhone 18 Pro/Pro Max pricing largely the same as that of iPhone 17 Pro/Pro Max by managing memory/display cost. That said, we expect a significant iPhone ASP increase in CY2H26 driven by mix.”
MacDailyNews Note: Pu reiterated his “Buy” rating on Apple and raised his target price on AAPL to $233 based on higher 2026 and 2027 estimates. Broader Wall Street analysts’ consensus averages around $290–$306 across dozens of analysts, with highs up to $350.
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