Services slowdown pushes Morgan Stanley's AAPL target down to $360
Morgan Stanley has pared its Apple price target from $364 to $360 after slowing Services growth and higher memory costs weakened its earnings outlook, despite strong demand for the company's products. John Ternus and Tim Cook The investment bank kept its Overweight rating on Apple, but analyst Erik Woodring said two of the three factors that usually support the stock are under pressure. Morgan…
Morgan Stanley has lowered its price target for Apple (AAPL) from $364 to $360 following a slowdown in Services growth and increased memory costs, which have dampened its earnings outlook. Despite robust demand for Apple's products, the investment bank maintained an Overweight rating on the stock. However, two of the three key factors supporting Apple's value—iPhone sales and Services—are currently under pressure, according to Morgan Stanley.
The company has revised its fiscal 2027 earnings estimate downward from $10.39 to $10 per share. In its latest report, Apple posted a fiscal third-quarter revenue of $109.4 billion, marking a 16% increase year-over-year. The iPhone generated $54.3 billion in revenue, setting a record for the June quarter, while Mac revenue expanded by 29%.
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