Institutional Rating | Morgan Stanley: Remains Optimistic About Apple's Outlook for the Next 12 Months, Raises Target Price to $364

Glonghui, July 24 — Morgan Stanley released a research report, projecting that Apple’s second-quarter financial results will slightly surpass market expectations. Although the third-quarter guidance hints at an increase in revenue and earnings per share, iPhone shipment volumes, price increases, and cost inflation may result in a profit margin below the market's expectation of 47.4%. Morgan Stanley remains optimistic about Apple over the next 12 months, raising the target price from $360 to $364, with a rating of "Overweight."