Apple Sees 17% Sales Growth, 22% EPS Jump and $100B Buyback

Apple delivered a record first quarter, with revenue up 17% year-over-year and earnings per share rising 22%. The surge was led by exceptional demand for the iPhone 17 line and the MacBook Neo series, both of which outpaced internal projections and solidified Apple’s position in premium hardware markets.

The board approved a $100 billion increase to its existing share repurchase authorization, expected to run through the next 12–18 months. This sizable program underscores management’s confidence in cash flow generation and aims to enhance shareholder returns by reducing outstanding shares and supporting earnings per share.

Apple projected second-quarter revenue growth of 14–17%, marking one of the most optimistic guidance ranges in recent years. Management cited continued uptake of flagship products and growth in Mac and Services segments as key drivers, while analysts noted that this outlook exceeds consensus expectations.

Despite some criticism for underinvesting in the AI capital expenditure cycle, several analysts have raised price targets, highlighting Apple’s potential benefits from AI integration across devices and services. The consensus view is that Apple’s efficient supply chain and ecosystem lock-in provide a strong platform for AI-driven revenue expansion.