Apple Stock Rises Amid Morgan Stanley Target Cut

Apple's stock price rose by 1.02 percent on October 2, 2026, to USD 333.69 on Nasdaq, following Morgan Stanley's decision to lower its target price for the tech giant.

Morgan Stanley reduced its target price for Apple to USD 355 from USD 360 and maintained an Overweight rating, citing the potential impact of a fall product cycle on revenue growth.

However, the analyst also noted that lower iPhone average selling prices and higher memory costs may offset some of the earnings benefits, suggesting that investors should be cautious when interpreting Apple's financial performance.

The company's fiscal Q3 revenue reached USD 109.4 billion, up 16 percent year-over-year, with each segment - iPhone, Mac, and Services - achieving record-breaking revenues in June.