Morgan Stanley Raises Apple Price Target to $360 Post WWDC 2026

Morgan Stanley analyst Erik Woodring raised the price target on Apple (NASDAQ: AAPL) to $360.00 (from $330.00) while maintaining an Overweight rating.

“An exciting product roadmap + “good enough” AI features + a clearer path to monetization = Upside to $360.

We believe WWDC 2026 fell towards the lower end of our Scenario 2 outcome defined in Exhibit 1 below – a clearly upgraded and rebuilt Apple Intelligence platform and Siri functionality, better visibility on feature rollout timing, and clearer paths to monetizing AI via both hardware and Services offerings, albeit with some shortfalls – limited 3rd party app integration, no availability in the EU or China (35% of TTM iPhone shipments), and minimal advanced Agentic workflows.

Net, while Apple didn’t “check all the boxes” in Exhibit 2 below, WWDC 2026 was still a clear step in the right direction, and we are raising our FY27 EPS estimate modestly to $10.30 (from $10.23) to account for slightly clearer and nearer-term monetization opportunities, while also embedding a multiple more in-line with Apple’s historical peak – or 35x – a testament to finally having a clear AI strategy that we only expect to get better over time.

This is how we arrive at our new $360 price target (up from $330), with (1) June qtr results/ September qtr guidance (end of July), (2) the iPhone 18 + first Foldable iPhone launch (mid-September), and (3) Apple Intelligence and Siri 2.0 re-launch (Fall 2026) the clearest upcoming stock catalysts.”

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