March Quarter Results Bolster Confidence in Apple Inc (AAPL) Stock

Apple Inc (NASDAQ:AAPL) is one of the best stocks to buy in 2026 according to billionaire George Soros. Apple stock has climbed around 40% over the past 12 months.

The iPhone maker reported its March quarter results on April 30, delivering earnings that surpassed expectations. Revenue rose 17% to $111.2 billion, and EPS jumped 22% to $2.01. The Street was expecting EPS of $1.93 on revenue of $108.92 billion.

March Quarter Results Bolster Confidence in Apple Inc (AAPL) Stock

brandon-romanchuk-NOFyRmSQfUQ-unsplash

The quarter was supported by strong growth in Apple’s flagship iPhone business and the closely watched Services division. Apple reported iPhone sales growth of 21.7% YoY to $56.99 billion, fueled by the extraordinary demand for the latest iPhone 17 models.

The Services segment, which houses such businesses as the App Store, iCloud, and Apple Music, grew 16.3% YoY to $30.98 billion.

Apple recorded double-digit growth across all its geographic segments. It finished the March quarter with $45.6 billion in cash and cash equivalents after spending $7.7 billion in dividend payments and $37 billion in share repurchases during the quarter.

Looking ahead, the company expects its revenue to grow between 14% and 17% in the June quarter. The board also added $100 billion to the company’s share buyback program.

California-based Apple Inc (NASDAQ:AAPL) is an American multinational technology company. The company is best-known as the maker of the iPhone, but it also sells a wide variety of other hardware products, including Mac computers and iPad devices. Apple is also engaged in software, digital media, and payment businesses.

While we acknowledge the risk and potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AAPL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: Top 10 Undervalued REIT Stocks to Buy Now and 11 Best Japanese Stocks to Buy Right Now.

Disclosure: None. Follow Insider Monkey on Google News.