• AAPL stock is up. See the chart and price action here.

Management guided for June-quarter revenue growth of 14% to 17%, well ahead of Street expectations for roughly 9% growth.

Apple also forecast gross margin of 47.5% to 48.5%, compared with consensus expectations of 47.6%, signaling continued pricing power and cost discipline.

AAPL Q2 Details

The upbeat outlook follows Apple's fiscal second-quarter double beat.

The company reported revenue of $111.18 billion, up 17% year over year and above analyst estimates of $109.66 billion, while earnings came in at $2.01 per share versus estimates of $1.94, according to Benzinga.

CEO Tim Cook called it Apple's "best March quarter ever," highlighting double-digit growth across every geographic segment and an all-time high in the active installed base across major product categories and regions.

iPhone revenue rose to $56.99 billion from $46.84 billion a year earlier, while Services revenue climbed to $30.98 billion from $26.65 billion, according to Benzinga.

Apple also announced a 4% dividend increase and authorized up to $100 billion in additional share repurchases, according to Benzinga.

Another key update from the call: Apple is no longer targeting a net cash-neutral position, marking a shift from its long-running balance sheet strategy.

The combination of a strong guide, resilient margins and ongoing buybacks helped send AAPL stock higher after hours.

AAPL Price Action: Apple stock up 3.59% in after-hours trading on Thursday, last trading at $281.09. The stock is approaching its 52-week high of $288.61, according to Benzinga Pro data.

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