Analysts weigh in on tech giant Apple Inc. (NASDAQ:AAPL) and yoga-wear chain Lululemon Athletica inc. (NASDAQ:LULU), as Apple wraps up May iPhone sales and Lululemon posts earnings. Let’s take a closer look:

Apple Inc.

With iPhone sales from May in the books, analyst Brian White from Drexel Hamilton weighs in on the tech giant and shares his thoughts on the late stages of the iPhone 6-series cycle. Despite newfound concern over Apple’s long-term longevity, White remains bullish on the company and its bright future.

White notes that May iPhone sales were “softer than historical averages.” The analyst elaborates, “May sales… fell by 1% MoM and weaker than the average 5% increase over the past eleven years. Last May, sales for our Apple Monitor rose by 2% MoM.” However, this does not come as a surprise during the “final months of the iPhone 6-series cycle before iPhone 7 ramp begins.”

The analyst estimates that iPhone sales will also be weak in June due to this logic. White explains, “If we assume an average MoM sales decline for…this June as experienced over the past 11 years, we estimate sales…will fall by 4% QoQ in the June quarter and weaker than the average rise of 13% for past June quarters and below the up 2% in 2Q:15.”

Moreover, the analyst is not caught up in the “‘gloom and doom’” sentiment that followed Apple as the company reached record highs. On the contrary, White believes the stock “represents an exceptional value.” Looking forward, the analyst will attend Apple’s World Wide Developer Conference next week and expects to hear more about its innovation pipeline.

White reiterates a Buy rating on Apple with a $185 price target, marking an 86% potential upside from current levels.

According to TipRanks, Brian White has a 57% success rate recommending stocks with an 8.5% average annual return per rating. He is ranked in the top 3% of all analysts on Wall Street.

Brian White stat

Out of the analysts who have rated Apple in the last 3 months, 84% are bullish, 13% are neutral, and 2% are bearish. The average 12-month price target for the stock is $125, marking a 26% potential upside from current levels.

Lululemon Athletica inc.

Athletic apparel retailer Lululemon posted first quarter earnings this morning. Camilo Lyon of Canaccord dives into the numbers, discusses the company’s outlook, and explains why he continues to remain on the sidelines of the company.

Lululemon posted adjusted EPS of 30 cents, in-line with Lyon’s estimate. Overall, he notes, “Q1 turned out to be a solid comp/GM quarter, but the absence of a clean beat on all line items coupled with ‘maintained’ vs. ‘raised’ guidance, tough 2H compares, and a high valuation likely keep the stock in check.”

Looking forward, the company is guiding second quarter EPS between 36 cents and 38 cents, falling below Lyon’s estimate of 40 cents. The analyst questions if this guidance is a “function of conservatism or perhaps less robust gross margin expansion.” Lululemon left its 2016 adjusted EPS estimate range unchanged at $2.05 to $2.15.

Lyon reiterates a Hold rating on the stock with a $70 price target, marking relatively flat upside.

According to TipRanks, 64% of analysts are bullish on the athletic apparel retailer, 23% are neutral, and 13% are bearish. The average 12-month price target is $69, marking a slight downside from current levels.