Stocks
Morgan Stanley Sticks by Apple's $360 Price Target Amid iPhone Demand
Morgan Stanley has reiterated its Overweight rating and $360 price target on Apple Inc. (AAPL). The firm cites steady demand for the iPhone 18, with lead times remaining broadly flat year-over-year internationally.
The optimism comes as Apple trades near its 52-week high of $345.34, with shares up 36% over the past six months. However, according to InvestingPro analysis, the stock appears overvalued relative to its Fair Value, trading at a P/E ratio of 38.84.
Lead times for the iPhone 18 Pro and Pro Max are currently 3-4 weeks internationally, roughly in line with their iPhone 17 counterparts. In China, however, lead times for the iPhone 18 Pro have increased to 26 days, compared to 24 days at the same point last year.