Stocks
Morgan Stanley Lowers Apple Price Target to $355 Amid iPhone Pricing Pressure
Morgan Stanley has adjusted its price target for Apple Inc. (AAPL) to $355 from a previous $360, maintaining an Overweight rating.
The revised target is due to the newly introduced iPhone lineup's pricing strategy exerting downward pressure on average selling prices and gross margins.
The financial institution's analysts emphasize that Apple's product pipeline stands as one of the most enticing seen in over a decade, although the recent iPhone launch has not significantly transformed its earnings trajectory.