# Apple (NASDAQ:AAPL) appears to be heading into its next earnings report on firmer footing than just a few weeks ago.

*business · news · 2026-04-07 · Markets Insider*

## Key points

- KeyBanc's KFLD data shows Apple product spending rose 37% month over month in March.
- Apple's hardware revenue for FQ2 is expected to decline 29–31% quarter over quarter, but grow 12.7–16.8% year over year.
- KeyBanc analyst suggests Apple may be building iPhone 17 inventory ahead of a missing base iPhone 18 model.
- Nispel raised FQ2 revenue estimate to $109.6 billion, driven by stronger iPhone assumptions.
- Despite higher estimates, KeyBanc maintains a Neutral rating, viewing Apple shares as fairly valued.

**Companies:** Apple
**Countries:** United States

[Read the full story on Markets Insider](https://markets.businessinsider.com/news/stocks/is-apple-stock-aapl-a-buy-ahead-of-earnings-as-demand-picks-up-keybanc-weighs-in-1036001520)

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