TD Cowen: 15% revenue growth, 10% growth guidance

Share gains in both smartphones and PCs

TD Cowen analyst Krish Sankar reiterated a Buy rating and a $325 price target on AAPL stock. He expects Apple to report over 15% year-over-year revenue growth for the March quarter and to guide June-quarter revenue up about 10% year-over-year, driven by healthy iPhone 17 demand and the new MacBook Neo.

Key watch items: Apple’s ability to manage memory cost inflation and the launch of a compelling AI‑powered Siri. Sankar believes Apple will continue gaining share in both smartphones and PCs, with sentiment already positive heading into earnings.

Apple is set to report earnings on April 30. Currently, analysts expect AAPL to post revenue of $109.45 billion in fiscal Q2, up from $95.36 billion in the year-ago quarter. Further, the company is expected to report earnings of $1.95 per share, compared with earnings of $1.65 in the prior-year quarter.

Source: TipRanks

NB: Consensus building that memory crunch will be neutral to positive.

Forward looking growth guidance is the key question now. 10% is a good guess. I am not putting forward a number but double digits seems plausible given the apparent success of both the iPhone and Mac in this product cycle.