DA Davidson has retained its Neutral recommendation on Apple Inc. stock, assigning a price target of $270 in the wake of the company’s fiscal first-quarter 2026 earnings report. Market data referenced in the research note shows Apple trading at $256.9, while analyst price targets span from $205 to $350, placing the DA Davidson target near the middle of that range.
The firm noted that Apple surpassed expectations on both revenue and profit in the quarter, with iPhone unit performance showing notable acceleration according to the research commentary. Over the trailing twelve months Apple recorded revenue of $416.16 billion, representing 6.43% growth, and the company retained a Piotroski Score of 9, a metric cited to indicate strong financial health.
Company management highlighted vigorous customer enthusiasm for the iPhone 17 family during the period, a factor the note said helped lift results. Apple reported that it exited the quarter with lean inventory balances, which the research firm interpreted as evidence of strong sell-through across its product lineup.
At the same time, Apple disclosed that it faced supply constraints with limited flexibility across its supply chain, which could have constrained the company’s ability to fulfill all customer demand during the quarter.
The DA Davidson note sits alongside a cluster of other recent analyst reactions to Apple’s quarter. KeyBanc Capital Markets highlighted a 23% year-over-year increase in iPhone revenue and an 18% rise in earnings per share. Wedbush drew attention to a 38% year-over-year revenue gain in China, calling that development a material contributor to Apple’s top- and bottom-line beats.
In response to the results, several firms adjusted their outlooks: JPMorgan raised its price target to $325, citing healthy gross margins and noting that concerns around a Services slowdown had eased. TD Cowen reiterated a Buy rating with a $325 target and forecasted 13-16% year-over-year revenue growth by March 2026, pointing to the iPhone 17 upgrade cycle and advances in AI-enabled Siri functionality as drivers. Rosenblatt Securities lifted its target to $267 while maintaining a Neutral stance, attributing the change to stronger-than-expected iPhone demand.
Taken together, the analyst responses reflect a mix of cautious and optimistic interpretations of Apple’s quarterly performance: beats on revenue and earnings and solid iPhone momentum are balanced against supply-side constraints and a broad dispersion in analyst price targets.
Key Points
- DA Davidson retains Neutral rating on Apple with a $270 price target; current share price cited at $256.9 and analyst targets range from $205 to $350.
- Apple beat revenue and profit expectations; iPhone sales accelerated and trailing twelve-month revenue reached $416.16 billion with 6.43% growth and a Piotroski Score of 9.
- Other firms noted strong iPhone revenue growth, significant China expansion, and updated price targets ranging up to $325, reflecting mixed analyst sentiment.
Risks and Uncertainties
- Supply constraints and limited supply-chain flexibility could prevent Apple from meeting all customer demand - a risk for consumer electronics and hardware supply chains.
- Analyst target dispersion from $205 to $350 indicates uncertainty among market participants about near-term momentum and valuation - relevant to equity market sentiment.
- Potential concerns around Services revenue prompted analyst scrutiny; although some firms report alleviation, Services performance remains a point of uncertainty affecting software and recurring-revenue expectations.