… Bank of America analyst Wamsi Mohan kept a Buy rating on Apple stock and laid out a bullish case for the company's AI strategy. The note argued Apple could generate far more revenue from AI services than investors currently expect. …
… The March quarter set records for total revenue, iPhone revenue, earnings per share, and Services. …
… Many investors view Apple Intelligence as a long-term ecosystem and hardware-retention strategy, not an immediate revenue engine, tied to future iPhone, iPad, and Mac upgrades. …
… The timing also fits Apple& 039;s larger business strategy. Smartphone growth has slowed globally, and Apple has leaned more heavily on recurring services revenue and ecosystem retention to support long-term growth. …
… Earnings grew faster than revenue, showing Apple& 039;s cost structure held as the business expanded. …
… A stable margin profile would likely do more to reassure investors than another upside revenue print. …
… Apple quarterly revenue and net profit as of Q2 2026 When it comes to product categories, iPhone revenue of $56.99 billion is up from $46.84 billion in Q2 2025. Mac revenue of $8.4 billion is up from $7.95 billion. …
… JPMorgan expects revenue to keep growing on strong product demand and Services. …
… A strategy built around revenue per user Apple& 039;s hardware strategy has shifted toward increasing revenue per user as global smartphone growth slows. …
… For the Q2 2025 results, Apple saw its revenue grow 5% year-over-year to $95.4 billion. Apple revenue by unit, as of end of January 2026 For iPhone, revenue was also up from $45.96 billion in Q2 2024 to $46.84 billion in Q2 2025. …