Top Analyst Reports for Apple, Eli Lilly & Chevron

Tuesday, September 23, 2025

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Apple Inc. (AAPL), Eli Lilly and Co. (LLY) and Chevron Corp. (CVX), as well as a micro-cap stock The Monarch Cement Co. (MCEM). The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.

These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

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You can read today's AWS here >>> Pre-markets Flat Following AI Tech Boost

Today's Featured Research Reports

Apple’s shares have outperformed the Zacks Computer - Micro Computers industry over the past year (+13.3% vs. +13.1%). The company is benefiting from strong growth in Services revenues. AAPL now has more than 1 billion paid subscribers across its Services portfolio. Both paid accounts and paid subscriptions grew double digits year over year in third-quarter fiscal 2025. 

Apple TV+ viewership has soared double-digit year over year. Expanding capabilities of AI Intelligence is noteworthy. Apple expects the September quarter’s (fourth-quarter fiscal 2025) net sales to grow mid to high single digits on a year-over-year basis. AAPL expects the Services year-over-year growth rate to be similar to that of the June quarter. 

However, gross margins are expected to be 46-47% in Q425, including a tariff impact of $1.1 billion. Increasing regulatory headwinds and tariffs are a concern for investors.

(You can read the full research report on Apple here >>>)
Shares of Eli Lilly have underperformed the Zacks Large Cap Pharmaceuticals industry over the year-to-date period (-2.9% vs. +2.5%). The company’s data from phase III studies on its weight-loss pill orforglipron was mixed. Declining sales of Trulicity, rising pricing pressure on some drugs and potential competition in the GLP-1 diabetes/obesity market are some top-line headwinds. 

Nevertheless, demand for Lilly’s popular GLP-1 drugs Mounjaro and Zepbound remains strong, making them the company’s key top-line drivers. Launches of these drugs in new international markets and improved supply from ramped-up production led to strong sales in the first half of 2025. 

Lilly’s other new drugs, like Kisunla, Omvoh and Jaypirca, are also contributing to its top-line growth. Lilly is also making rapid pipeline progress in obesity and diabetes. 

(You can read the full research report on Eli Lilly here >>>)

Chevron’s shares have outperformed the Zacks Oil and Gas - Integrated - International industry over the year-to-date period (+13.9% vs. +8.6%). The company’s position is strengthened by its strategic acquisition of Hess, which boosts long-term production and free cash flow. Chevron also demonstrates strong operational performance with record production from its U.S. Permian Basin assets and significant projected growth from its GoA and Tengiz projects. 

A robust financial structure, a high investment-grade rating, and an attractive dividend yield further support Chevron's stability. However, several factors temper this positive outlook. Upstream earnings fell despite record production, primarily due to lower oil prices. 

Meanwhile, geopolitical complexities in international operations add a layer of risk. Furthermore, the stock's high valuation relative to its peers suggests limited near-term upside. Given these conflicting positive and negative points, a neutral stance is advised.

(You can read the full research report on Chevron here >>>)

Shares of Monarch Cement have gained +8.6% over the year-to-date period against the Zacks Building Products - Concrete and Aggregates industry’s gain of +19%. This microcap company with a market capitalization of $852.03 million maintains strong shareholder returns, with $11.3 million in dividends paid out for the first six months of 2025, supported by $9.5 million in equity gains and $1.8 million in affiliate earnings. 

With no long-term debt and $34.2 million in cash, liquidity and reinvestment flexibility remain ample. Retained earnings rose to $375.1 million, while equity expanded to $410.5 million, funding a $40.1 million capex program. Geographic diversification offsets volume pressures, with cement price increases driving revenue resilience. 

The Humboldt plant secures more than 50 years of reserves and structural cost advantages. A 49% JV stake in RMCMO enhances returns while limiting capital intensity. Improved investing cash flows reflect disciplined asset monetization. Strong brand, logistics and infrastructure exposure underpin durable pricing power and long-term competitive positioning.

(You can read the full research report on Monarch Cement here >>>)

Other noteworthy reports we are featuring today include Constellation Energy Corp. (CEG), Cencora, Inc. (COR) and Seagate Technology Holdings plc (STX).

Mark Vickery
Senior Editor

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

Today's Must Read

Strong Services to Aid Apple (AAPL) Amid Tariff Headwinds

Lilly (LLY) New Drugs to Drive Sales Growth Amid Rising Competition

Permian Strength Supports Chevron's (CVX) Production Growth

Featured Reports

Focus on Renewable Energy Aid Constellation Energy (CEG)
Per the Zacks analyst, Constellation Energy gains from expansion of renewable portfolio. Its position as an industry leader in the safe operation of nuclear plants helps increase its nuclear output.

Specialty & GLP-1 Demand Driving Cencora's (COR) Robust Sales Growth
Per the Zacks analyst, Cencora's specialty expansion and GLP-1 demand fuel strong revenue growth. However, margin dilution and global headwinds remain a concern.

Seagate (STX) Rises on Strong Demand for Mass Storage
Per the Zacks analyst, Seagate is gaining from higher demand for mass capacity storage solutions as well as expansion into SSD storage space. However, high debt and stiff competition remain a concern.

Public Funding Aids Martin Marietta (MLM) Amid Housing Weakness
Per the Zacks analyst, Martin Marietta is gaining from federal funding initiatives, sustained pricing momentum and effective cost management. However, a weak residential market and macro risks hurt.

Specialty and GMPD Demand Aids Cardinal Health (CAH) Amid Headwinds
Per the Zacks analyst, Cardinal Health is driving growth through specialty pharma, at-home care, and GMPD turnaround, offsetting contract expirations, rising costs and tariff exposure.

Sales Opportunity in China to Aid Autoliv (ALV) Amid High Labor Costs
Per the Zacks analyst, Autoliv expects sales opportunities in China to increase as local automakers grow more innovative and globally competitive. However, labor cost pressure remains a concern.

Abercrombie's (ANF) Sales Soar on Hollister, Regional Gains
Per the Zacks analyst, Abercrombie saw sales surge on Hollister's strength and broad regional gains, with brand appeal and digital traction supporting an upgraded outlook.

New Upgrades

Strength in Applied Water Segment to Benefit Xylem (XYL)
Per the Zacks analyst, solid traction of Xylem's Applied Water segment, led by higher demand for commercial building solutions applications, including pumps and valves, will result in momentum.

Solid Insurance in Force, Persistency Drive Radian (RDN)
Per the Zacks analyst, Radian is poised to grow given solid persistency and rise in new mortgage insurance business driving insurance in force, declining delinquency and lower level of claims paid.

ProAssurance (PRA) Rides On Solid investment income and Cost control
Per the Zacks analyst, its rising net investment income will fuel ProAssurance's top-line growth. Also, its cost control efforts are strengthening its operating margins.

New Downgrades

Rising Competition & Declining RPE Hurt Robert Half (RHI)
Per the Zacks analyst, heightened competition makes it difficult for Robert Half to balance growth and profitability. Declining revenues per employee (RPE) is a red flag for investors.

Ryanair (RYAAY) Continues to Grapple With Rising Expenses
The Zacks Analyst is worried about the escalating operating expenses due to high fuel costs, staff costs and higher air traffic control fees, which are likely to hurt Ryanair's bottom line.

Solid AUM Growth Aid, Concentration Risk Hurt Lazard (LAZ)
Per the Zacks analyst, solid asset under management (AUM) and an improvement in deal-making activity will drive Lazard's growth. Yet, high dependence on financial advisory revenues is a concern.

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This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research