Apple will outperform consensus estimates when the company reports quarterly earnings on Jan. 29, two Wall Street firms predicted.

Evercore ISI added Apple to its Tactical Outperform list on Tuesday, arguing that robust iPhone demand positions the company for a strong earnings print. The firm reiterated an Outperform rating and a $330 price target on Apple stock, which remain its top pick for 2026.

Evercore expects iPhone revenue to climb 17% from the same period last year, well above the consensus call for 11% growth. Sales skewed toward higher-end models over the holiday quarter, the firm noted, which should mean higher-than-expected average sales prices.

Analysts at Citi agree that a surge in demand for iPhone 17 models carried through the end of the year. The firm expects an earnings beat for the December quarter, driven by the sale of 82 million iPhone units -- ahead of consensus. The firm maintained a Buy rating on Apple stock, but trimmed its price target to $315 from $330, saying rising memory prices may weigh on margins in later earnings reports.

Apple shares slumped 1.2% to $252.59 in premarket trading Tuesday. Investors sold off risk assets in response to President Donald Trump's threat to impose tariffs on NATO countries if the alliance doesn't allow his administration to acquire Greenland. The stock was down 6% so far this year as of Friday's close.