Evercore Removes Apple (AAPL) From Tactical List after Strong Earnings

Apple Inc. (NASDAQ:AAPL) is 1 of the 10 AI Stocks Gaining Attention connected Wall Street. On January 30, Evercore ISI analysts dropped Apple from their TAP Outperform database pursuing its December-quarter earnings.

Apple reported fiscal Q1 2026 gross of $143.8 cardinal and net per stock of $2.84, up of Street expectations of $138.4 cardinal and $2.67, respectively. Total gross grew 15.7% year-over-year, led by iPhone income expanding 23% and Services increasing 13.9%.

Meanwhile, gross margins for the 4th were 48.2%, demonstrating a 130 ground constituent year-over-year betterment and exceeding management’s guidance range. The steadfast besides higglighted however Apple’s proviso constraints constricted their quality to conscionable upside successful demand, expected to proceed into adjacent quarter.

“Looking ahead, AAPL guided Mar-qtr revs up +13-16% y/y (vs. thoroughfare astatine up ~10%), reflecting ongoing iPhone request and continued DD Services growth, contempt ongoing merchandise proviso constraints. Notably, representation headwinds had a minimal interaction connected GMs successful the quarter, though they are expected to person much of a antagonistic interaction successful the Mar-qtr.”

10 Smartphones with the Best Cameras and Battery Life

Noting cardinal points from the EPS call, it noted that it is removing AAPL from their tactical outperform database pursuing its beardown beat-and-raise.

“We proceed to presumption AAPL arsenic 1 of our apical picks for CY26 and support our OP standing and $330 target.”

Apple is simply a exertion institution known for its user electronics, software, and services.

While we admit the imaginable of AAPL arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the champion short-term AI stock.

READ NEXT: 30 Stocks That Should Double successful 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.