Market
Apple shares rise as iPhone 17 and MacBook Neo drive forecast
ZivFin AnalysisMay 1, 2026
STORY: Apple on Thursday touted blowout demand for its flagship iPhone 17 and the MacBook Neo that helped power a solid sales forecast sending its shares up nearly 4% after hours.The tech giant's executives said they expect sales growth of up to 17% in the current fiscal third quarter.That's above Wall Street estimates of 9.5%, according to LSEG data.In the second quarter ended March 28, sales and profits were at around $111 billion and $2 per share, above analyst expectations.In the latest quarter, sales of the iPhone, still the company's best-selling product, were $56.9 billion, slightly less than estimates.CEO Tim Cook said iPhone sales were held back in the quarter by supply constraints for the device's advanced processor chips.Mac sales, which included several weeks of Neo sales, were $8.4 billion, beating expectations.Analysts believe the Neo could help Apple crack a new $20 billion market for lower-priced laptops.In the fiscal second quarter, Appleβs existing inventory of memory chips helped it weather rising prices.But memory costs will catch up to Apple starting in the current quarter ending in June.Cook, in a conference call with analysts, said they believe it will "drive an increasing impact" on the business.