For investors, this is an important signal. Rather than indicating supply issues, these delays suggest that demand is outpacing production, which typically supports stronger revenue and pricing power. In simple terms, Apple is selling products as fast as it can make them.

Now, Bank of America (NYSE: BAC) is jumping on the bandwagon, noting that the company is likely to post strong second-quarter earnings thanks to iPhone demand. In fact, according to analyst Wamsi Mohan:

“As we head into F2Q26 (Mar Q) earnings after market close on Thur., Apr 30th, we see upside to Street estimates given continued strong sales of iPhone, double-digit growth in Services revs and benefit from FX,” he said, as quoted by Seeking Alpha. “Upcoming catalysts include expected new buyback authorization, WWDC (Worldwide Developers Conference) in June, and launch of a foldable iPhone in the fall & [the] launch of an enhanced Siri with integration with Gemini AI, which can drive higher upgrades.”

Morgan Stanley has an overweight rating on the stock with a $315 price target, with analyst Erik Woodring noting that, “We expect gross margin downside to be more than offset by revenue upside in the June quarter guide, making for a better than feared earnings and a clearing event into WWDC this June, and the iPhone launch in September,” as quoted by Seeking Alpha.

CEO Tim Cook Passing Torch Ahead of Earnings

And, by now, we’re sure you heard that CEO Tim Cook is stepping down, handing the torch to hardware engineering vice president John Ternus on September 1.

That, according to analysts, may be a sign of potential blowout earnings.  “Tim Cook wouldn’t be retiring at a time of crisis,” added DA Davidson analyst Gil Luria, as quoted by CNBC. “He has an opportunity to walk away at a time with record iPhone sales and significant growth, a good upgrade year and a nice road map ahead.” 

In short, he’s going out on top.

In short, with solid iPhone demand, growing services revenue, and a lineup of new innovations on the horizon, there’s a clear case for optimism. Plus, with CEO Tim Cook looking to go out on top, that may be a sign of potential blowout earnings.  

Multiple Catalysts Are Aligning for Apple

Beyond the headline catalysts, Apple’s ecosystem strength remains a key reason analysts are leaning bullish into the quarter. The company’s installed base continues to grow, creating a powerful flywheel effect that drives recurring revenue across devices and services. Each iPhone sold is not just a one-time purchase, but an entry point into higher-margin offerings like iCloud, Apple Music, Apple Pay, and App Store spending.

That dynamic is particularly important in the current macro environment. While hardware cycles can fluctuate, Apple’s services segment has proven resilient, delivering consistent double-digit growth and helping smooth out volatility in device sales. This diversification is one reason analysts are more comfortable forecasting upside, even as concerns about consumer spending linger.

There’s also a growing focus on Apple’s artificial intelligence (AI) strategy. While the company has been quieter than peers in generative AI, expectations are building around deeper integration through Siri and potential partnerships, including with Google’s Gemini AI. If Apple can successfully embed AI features across its ecosystem, it could drive a new upgrade cycle similar to past innovations like 5G.

Taken together, Apple isn’t just heading into earnings with strong demand—it’s entering a phase where multiple growth drivers are aligning at once.

Why Apple’s Bullish Setup Is Hard to Ignore

Apple continues to benefit from strong demand for its core products, particularly the iPhone, which remains its largest revenue driver. At the same time, its services segment is delivering consistent, high-margin growth, providing stability and diversification. 

Looking forward, new innovations in hardware and artificial intelligence offer additional upside potential, while upcoming events like WWDC and future product launches serve as key catalysts. Also, with multiple analysts expecting upside and a leadership transition, Apple appears well-positioned heading into its next earnings report. 

For its latest quarter, the company posted EPS of $5.94, as compared to expectations for $5.45. Revenue of $50.54 billion was reported, as compared to estimates of $49.17 billion.

But he also warned Wall Street not to get too comfortable with the market for a few reasons. Primary among those concerns is that inflation could reignite.

Dimon warned that inflation may not be fully under control, calling it the “skunk at the party.” A resurgence—especially driven by energy shocks—could force interest rates higher again, putting pressure on stocks, bonds, and real estate simultaneously.

Increasing geopolitical risks were also cited as a reason for investors to be concerned. Dimon pointed to tensions in the Middle East, the war in Ukraine, and strained relations with China as potential catalysts for economic disruption. These conflicts are not just political—they directly affect supply chains, commodity prices, and global growth. Oil shocks in particular could ripple through inflation and consumer spending.

Three, there’s a market complacency issue. Dimon has repeatedly suggested that markets resemble periods before past downturns, with investors underpricing risk and chasing returns. 

Among the major banks, JPMorgan holds a lot of clout. And Dimon is a significant reason for that. However, other major banks also issued economic warnings.

Goldman Sachs Tops Estimates but Trading Weakness Raises Concerns

Goldman Sachs (NYSE: GS) posted net income of $5.63 billion on revenue of $17.23 billion, with EPS of $17.55, which topped estimates calling for $16.49 per share on revenue of $16.97 billion.

Unfortunately, those numbers were overshadowed by a sharp miss in fixed-income trading. Revenue from fixed income, currencies and commodities came in at about $4 billion, falling short of expectations by as much as $900 million. It was that shortfall that weighed on GS post earnings, which has dropped about 2% since the report, as of this writing. 

The firm’s asset and wealth management division generated $4.08 billion in revenue, which was about $140 million short of analyst expectations.

And the firm warned that geopolitical risks are the key threat to global economic growth, driven by conflicts in the Middle East and Ukraine, and US-China tensions. These risks cause energy supply shocks, market volatility, and potential economic downturns, with analysts closely monitoring oil-driven GDP impacts.

Bank of America Earnings Highlight Trading Strength and Consumer Resilience

Bank of America (NYSE: BAC) beat on the top and bottom lines thanks to equities sales and trading. EPS of $1.11 beat estimates of $1.01. Revenue of $30.43 billion beat estimates of $29.93 billion. 

Equities trading contributed to the beat. Revenue there jumped 30% to $2.83 billion, topping estimates by about $350 million and helping drive the bank’s trading operations to its best quarter in 15 years, as noted by CNBC.

Investment banking also beat estimates, rising 21% to $1.8 billion, above the consensus of $1.73 billion. And net interest income jumped 9% to $15.9 billion and beat expectations of $15.67 billion as well.

In addition, as noted by CNBC, “Bank of America previously projected net interest income growth of between 5% and 7% this year, but raised that guidance on Wednesday to between 6% and 8% due to outperformance in the first quarter.”

The firm is also cautious, noting: 

“While we’re navigating many dynamics now from geopolitics to rates to credit, our data continues to tell us that the American consumer and American industry remain resilient,” Bank of America CFO Alastair Borthwick said, as quoted by The Street.

What Major Banks’ Earnings Signal for Investors Now

From the risk of resurgent inflation to escalating geopolitical tensions and signs of investor complacency, the warning is clear: markets may not be fully pricing in what comes next. For investors, that means staying alert, diversified, and prepared for potential volatility.

Apple Draws Analyst Upgrades Ahead of Earnings

Expecting a solid report, JPMorgan Chase & Co. (NYSE: JPM) reiterated its overweight rating on Apple and raised its price target to $315 from $305 ahead of Apple’s first-quarter earnings.

Evercore ISI added Apple to its Tactical Outperform list, arguing that strong iPhone demand positions the company for strong earnings. The firm reiterated an Outperform rating and a $330 price target on Apple stock. Evercore expects iPhone revenue to climb 17% year over year, which would be well above calls for 11% growth.

And, according to CEO Tim Cook, “First-quarter revenue is expected to demonstrate year-over-year growth ranging from 10% to 12%, which translates to $136.7 billion to $139.2 billion. This would easily eclipse Apple’s previous record-high quarterly revenue of $124.3 billion, set in the first quarter of fiscal 2025. What’s more, it would stand as Apple’s most significant year-over-year revenue jump since the first quarter of fiscal 2022, when it posted an 11.2% increase,” as quoted by Seeking Alpha.

However, Apple isn’t the only stock that analysts are gushing over.

Meta Surges as Analyst Upgrades Follow Blowout Results

Meta Platforms Inc. (NASDAQ: META) exploded after the company posted EPS of $8.88 on revenue of $59.89 billion. Those came in above estimates for $8.23 and $58.59 billion. Meta also issued strong guidance, expecting first-quarter sales of $53.5 billion to $56.5 billion, which is above estimates of $51.41 billion.

Analysts loved the news, with Barclays raising its price target to $800 from $770, with an overweight rating.

“After a jittery response to 3Q, META got back to business in 4Q. More impressive than the massive capex/opex growth is the ad rev trajectory, eclipsing 30% in 1Q, papering over many investor concerns. META continues to set the pace for the digital ad industry, with AI option value still ahead,” added the firm, as quoted by CNBC.

Morgan Stanley (NYSE: MS) has an overweight rating with an $825 price target. JPMorgan has an overweight rating with an $825 price target. Goldman Sachs (NYSE: GS) has a buy rating with an $835 price target. Wells Fargo (NYSE: WFC) has an overweight rating with an $849 price target. Citigroup (NYSE: C) has a buy rating with an $850 price target. UBS Group (NYSE: UBS) also has a buy rating with an $872 price target.

Bank of America Reiterates Buy on IBM

Analysts at Bank of America (NYSE: BAC) just reiterated a buy rating on IBM (NYSE: IBM), with a price target of $340. The firm noted that IBM posted an overall beat on topline numbers thanks to upside in Infrastructure, improving Transaction processing and solid growth in Data.

Not only did it just declare a $1.68 per share dividend (payable on March 10 for shareholders of record as of February 10), it also posted EPS of $4.52 billion, which was above expectations by 23 cents. Revenue of $19.69 billion, up 12.2%, beat by $480 million.

“In the fourth quarter, we delivered strong revenue growth, with double-digit Software performance. Additionally, Infrastructure continued its double-digit revenue growth with the robust adoption of the next generation of our mainframe platform. Our generative AI book of business now stands at more than $12.5 billion. This capped a strong 2025 for IBM where we exceeded expectations for revenue, profit and free cash flow,” said Arvind Krishna, IBM chairman, president and chief executive officer. 

“We enter 2026 with momentum and in a position of strength, giving us confidence in our full-year expectations of more than 5 percent constant currency revenue growth and an increase of about $1 billion in year-over-year free cash flow.”

Microsoft Slides on Guidance, But Analyst Support Holds

Microsoft Corp. (NASDAQ: MSFT) reported that cloud growth slowed in the second quarter. It also issued soft guidance on operating margins. 

The good news is that MSFT’s EPS of $4.14 was better than the estimates of $3.97. Revenue of $81.27 billion was also higher than the estimates for $80.27 billion. With guidance, the company called for revenue of between $80.65 billion and $81.75 billion, with its mid-range of $81.2 billion meeting estimates of $81.19 billion.

With the stock dropping, Deutsche Bank (NYSE: DB) reiterated a buy rating on MSFT with a $575 price target. The firm noted that MSFT “reported another solid result for F2Q, but it ultimately fell short of more lofty market expectations, in particular for Azure growth,” as quoted by CNBC.

Analyst Upgrades Signal Continued Confidence in Big Tech

The latest round of analyst upgrades after earnings suggests Wall Street remains confident in the long-term outlook for Big Tech. While short-term volatility may follow guidance updates or elevated expectations, consistent earnings strength and AI-driven growth continue to support bullish sentiment across the sector.

In fact, the firm reiterated its overweight rating on Apple and raised its price target to $315 from $305 ahead of Apple’s first-quarter earnings report on Thursday.

“We see a positive set up for the shares heading into F1Q26 (Dec-end) earnings print as AAPL shares are trading at 30x NTM (next 12 months) P/E, below the peak multiple that is typical for the shares heading into a key iPhone product cycle (previous peak of ~32x into 5G cycle), in combination with the modest upsides in relation to both F1Q26 print and the F2Q26 outlook,” added the firm, as quoted by CNBC.

One bullish analyst rating is good. Two is better, and three is a pattern. That’s the case with Apple.

Evercore ISI added Apple to its Tactical Outperform list, arguing that strong iPhone demand positions the company for strong earnings. The firm reiterated an Outperform rating and a $330 price target on Apple stock. Evercore expects iPhone revenue to climb 17% year over year, which would be well above calls for 11% growth. 

Analysts at Citigroup Inc. (NYSE: C) say that the surge in demand for iPhone 17 models carried through the end of the year. The firm expects to see Apple beat earnings, thanks to the sale of 82 million iPhone units, which was ahead of consensus estimates.

Apple has a chance to move markets when it reports earnings on Jan. 29 after the market closes. However, you’ll also want to pay attention to these two stocks, which are also drawing bullish analyst attention.

Meta Platforms: Expectations for Confirmation of CapEx Spend

Meta Platforms Inc. (NASDAQ: META) has been rocketing higher heading into earnings on Thursday. The stock is up over 9% in the five trading days ending Jan. 26.

Analysts expect Meta to generate earnings of $8.29 per share, an increase of 3.4% from $8.02 per share reported year over year. For the current year, analysts forecast the company to report an EPS of $29.40, a 23.2% increase from $23.86 reported for FY 2024. EPS is expected to grow 4.2% year over year to $30.63 in fiscal 2026.

With this report, we’re looking for growth in its investments in data centers and hardware. That’s in addition to what it’s spending on R&D, which jumped about 50% over the last few years, as the company aggressively invests in artificial intelligence. 

Analysts at Bank of America (NYSE: BAC) just reiterated a buy rating on the stock with an $810 price target. The firm expects fourth-quarter revenue of $59.2 billion and earnings per share of $8.27, above consensus estimates of $58.3 billion and $8.20, respectively. 

For the first quarter of 2026, the firm expects revenue of $52.3 billion and EPS of $6.31, compared to Street expectations of $51.2 billion and $6.29. The firm anticipates Meta will guide to first-quarter revenue between $50 to $52.5 billion, representing 18 to 24% year-over-year growth.

Can PayPal Show That Growth is Strengthening?

In contrast to the first two names, PayPal Inc. (NASDAQ: PYPL) is limping into earnings, down just over 3% in 2026. The fintech giant won’t report this week, but it’s fourth-quarter 2025 earnings report, which will be released on Feb. 3, will be closely watched.

After four consecutive quarters of beating estimates, the company continues to attract attention.  This time around, the company is expected to post EPS of between $1.29 and $1.34 on sales of about $8.76 billion, which would show modest year-over-year (YoY) growth. 

For the full fiscal year 2025, the company is expected to post EPS of $5.36, up about 15% year over year. For fiscal 2026, EPS is expected to jump 9.3% year over year to $5.86.

However, there are concerns about slowing growth and competitive pressure. In fact, in the last reported quarter, active accounts grew only about 1% year-over-year, while total payment transactions declined 5%. Plus, there were signs that users weren’t transacting as often.

Analysts have a consensus price target of $71.44 on PYPL stock, a 21% gain from its closing price on Jan. 26. If PayPal can show that those numbers are turning around, the stock could have much more upside.

Analysts Can Lead You to What Earnings Season Will Reveal for Apple and Others

Apple appears well-positioned heading into its earnings release, supported by strong iPhone demand and rising analyst confidence. Meta Platforms also enters its report with solid expectations, fueled by continued advertising strength and aggressive investments in artificial intelligence. Meanwhile, PayPal faces a more mixed outlook, with earnings growth expected but lingering concerns around user engagement and transaction volumes.