12:45 PM EDT, 05/01/2026 (MT Newswires) -- Apple's (AAPL) iPhone 17 "supercycle"continues to gain momentum across nearly every major geography, supported by stronger-than-expected results and robust guidance for the June quarter, Wedbush Securities said in a Friday research note.

The company reported strong quarterly results, with revenue, iPhone sales and services all exceeding expectations, the firm said.

The company's guidance for the June quarter exceeded Street expectations. It bakes in continued supply constraints across several Mac models. Supply and demand balance is expected to take several months to materialize, according to the note.

Analysts said the Worldwide Developers Conference at Apple Park in early June is highly consequential. Updates are expected on personalized Siri and expanded Apple Intelligence capabilities. Additional details on the collaboration with Alphabet's (GOOG) Google Gemini are also expected, they said.

The firm also highlighted a leadership transition, with John Ternus expected to take on a larger role, signaling continuity in strategy.

Wedbush raised its 2026 earnings estimate for Apple to $8.64 a share from $8.50. Analysts polled by FactSet expect $8.66.

The firm reiterated its outperform rating on the stock with a $350 price target.

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