Stocks
Morgan Stanley Cuts Apple Price Target Amid Limited Upside
Morgan Stanley has lowered its price target on Apple Inc. to $355 from $360 while maintaining an Overweight rating on the shares.
The firm noted that Apple's product roadmap remains among the most exciting in over a decade, but its earnings outlook changed little following the iPhone launch, leaving limited upside to the price target after a strong six-month run.
The stock has surged over 30% in the past six months, trading at $333 with a market capitalization of $4.86 trillion.
Morgan Stanley's model changed little after reviewing information since the iPhone launch, including pricing, specifications, lead times, Siri AI, Services pricing actions, and supply chain checks.