The iPhone is still the king of Apple. Analysts supported the company’s latest quarterly results, which exceeded consensus expectations, largely due to the strong sales of the company’s iPhone. Apple reported iPhone sales of $ 40.7 billion in the June quarter, above consensus, up nearly 3% year-over-year. Some analysts have pointed out that Apple’s iPhone sales can protect the company in the future, especially due to the prolonged uncertainty about the current macroeconomic background. Apple will also release a new iPhone this fall. Evercore ISI analyst Amit Daryanani wrote in a Thursday note entitled “Building a Wider Moat Through Macro Concerns”: “AAPL will continue to generate mid-single-digit sales and teens since 2011. We believe we maintain our unique position to sustain mid-EPS growth. ” The company also announced a share buyback of over $ 28 billion and a gross profit of 43.26%, ahead of its own guidance of 42% to 43%. Of course, there are headwinds for Apple in the future. The company said the exchange rate due to the strong dollar weighed heavily in the quarter. In addition, Apple did not provide formal guidance on expected performance for the coming quarter. Leading analysts said of the report: CitiCiti raised Apple’s target price from $ 175 to $ 185 and maintained its purchase rating after the earnings announcement. “Investors are worried about a general slowdown in consumer spending, but Apple has announced a record high of over 1.8 billion install bases, future service sales, upgrades, and We are preparing for a replacement. ” He added that Apple is still growing despite the currency headwinds caused by the strong dollar. After that, Suva pointed out five reasons to buy the stock. Launch of iPhone14, bias towards mid-to-high price products, share buyback of about $ 90 billion, service revenue, launch of new product category. UBS UBS maintained its price target of $ 185 and purchased a rating on Apple shares. It states that the results have largely met investor expectations, even if foreign exchange headwinds continue. The company also expects its share price to skyrocket in August, ahead of the iPhone’s fall launch. “In the last decade, Apple’s share price has returned by an average of about 7% in August, the best month of the year, and investor sentiment usually improves prior to the fall launch of the iPhone, so the S & P 500 is about 650bps. It exceeds. ” David Vogt on Thursday’s note. Evercore Evercore believes Apple remains in a solid position given its growing install base, accelerated revenue and gross margins of over 42%. “I would like to emphasize that AAPL’s revenue seems to be driven by supply constraints rather than macro concerns, but we focused on the soft pockets of macros (digital advertising, wearables, etc.),” said Daryanani. Told. Evercore maintained its outperform valuation by raising its price target from $ 180 to $ 185. Bernstein Not all analysts considered the report rosy. Following the results, Bernstein maintained Apple’s market performance rating and $ 170 price target. “Macro issues are of utmost importance in our minds,” Toni Sacconaghi wrote in a Friday memo. “Why is Apple unaffected by the changes in spending currently seen among consumers? And perhaps more importantly, to protect Apple from the unexpected downside in its fourth-quarter guidance. Didn’t they choose to be somewhat conservative? ”The company also could have overestimated Apple’s 2023 earnings estimates, especially if consumer spending patterns returned from strength in 2021 and 2022. I am concerned that there is. However, we believe that the risks / rewards for the next six months will be neutral to moderately negative for the next two years. ” JPMorgan JPMorgan reiterated Apple as a safe haven after producing solid results. “IPhone revenue continues to grow year-over-year, despite the double pain of a tough comparison and a weak background in consumer spending, which, along with Apple’s commentary on quarterly record switchers, gained market share. Through this combination, we are increasingly confirming the potential for sustainable growth of the iPhone, as well as the installation-based replacement of devices that are expanding on a large scale, “Samik Chatterjee wrote in a note on Thursday. “In addition to resilient product demand, service revenue and contributions from revenue enable high predictability and resilience of the company’s total revenue / revenue, making it a safe haven for AAPL. I will, “added Chatterjee. The company has a $ 200 price target and an overweight reputation for tech giants. Deutsche Bank said in a note Thursday that analyst Sydney Ho said, “I was impressed with the company’s gross margin, which was above the guidance range, especially given the FX headwinds.” “AAPL did not provide F4Q revenue guidance, but management commented that product revenue should increase year-over-year, and lower consumer spending could have a significant impact on AAPL’s revenue. It should help alleviate concerns about it, “Ho added. The company has a price target of $ 175 and a purchase rating for Apple shares. Morgan Stanley Apple is still one of Morgan Stanley’s top picks. The company has a $ 180 price target and an overweight valuation of its shares. “Apple’s June Q results show a clear differentiation of consumer hardware from its peers, and as in the previous quarter, Apple is a stable indicator of otherwise difficult markets. I believe we will continue, “Erik Woodring wrote in a note on Friday. “In the long run, the move to a more subscription-like story represents an important impetus for Apple’s current share price to rise, and by combining these short-term and long-term, Apple It continues to be the top IT hardware of 2022. ”Wells Fargo Wells Fargo is also Apple’s $ 185 price target and overweight rating. “Notably, Apple hasn’t seen a macro-driven slowdown in iPhone, but has seen some impact on the wearable segment and some services (digital advertising),” Aaron Lakers said Thursday. I wrote it in a memo. “Macro and FX are still a significant challenge, but Apple continues to believe that it can outperform the broader PC and smartphone markets while supporting equities through significant capital returns.” Goldman Sachs Apple Despite generally positive comments from analysts after the report, Goldman Sachs Rodhole lowered its fourth-quarter estimate due to concerns about the company’s outlook. “Apple generally showed little evidence of weak consumer demand, but pointed out macro implications for both wearables and services. After all, Apple could improve with FQ4 inventory building, We believe that we are early to ease expectations for the impact of the FQ4’s launch of the iPhone. Income more than expected. ” “I believe there is a better option for investors who want to overcome macros that are deteriorating somewhere in their coverage,” he said. Hall has a neutral valuation of $ 139 per share and price target. — CNBC’s Michael Bloom contributed to this report.