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On Thursday, Apple Inc. (NASDAQ:AAPL) delivered a fourth-quarter performance, prompting Wedbush Securities' Dan Ives to call it a "pound-the-table moment." CNBC's Jim Cramer also said that critics "owe us an explanation."
During a CNBC segment, Ives said Apple's earnings and guidance marked a turning point for investors who had doubted its growth trajectory.
"Apple’s going to get into the AI party and that I believe is worth $75 to $100 a share if you’re an investor right now," said Ives, adding, "It’s a pound the table moment for the stock."
Ives expressed strong confidence in Apple's outlook, predicting the stock would turn positive following the company's quarterly results.
He noted that despite only a single week of iPhone 17 sales being reflected in the quarter, demand in China appears robust heading into the December period. "You could have a $400 stock if they get AI right."
Cramer also weighed in on the post-earnings reaction, calling out Apple's critics
"The Apple bears owe us an explanation for what they have been pushing about lead times, and store demand, and approximation, They were almost all wrong," he wrote on X, formerly Twitter.
Deepwater Asset Management's managing partner Gene Munster said Apple's stronger-than-expected holiday-quarter forecast more than offset its minor iPhone revenue miss, which he attributed to "supply constraints," not weak demand.
He noted that many of those delayed sales will likely shift into the December quarter, where he expects around 12% iPhone growth.
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Apple posted fiscal fourth-quarter revenue of $102.47 billion, slightly above Wall Street's forecast of $102.17 billion, while earnings came in at $1.85 per share, topping expectations of $1.76 per share.
The Cupertino-based tech giant has now exceeded analyst estimates for both revenue and profit in 11 consecutive quarters.
Product revenue climbed to $73.72 billion, up from $69.96 billion a year ago, while services revenue surged to $28.75 billion from $24.97 billion last year. iPhone revenue reached $49.02 billion, up from $46.22 billion last year
Apple said its active installed base of devices hit new record highs across every product category and region, driven by what it called "very high levels" of customer satisfaction and loyalty.
Price Action: According to Benzinga Pro, Apple's stock climbed 2.34% in after-hours trading.
Benzinga’s Edge Stock Rankings show that AAPL maintains a strong upward trend across short, medium and long-term periods. View the complete performance breakdown here.
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Photo: JHVEPhoto / Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Posted In: AAPL
