Morgan Stanley Reiterates Overweight on Apple, $360 PT

Morgan Stanley analyst Erik Woodring reiterated an Overweight rating and $360 price target on Apple (NASDAQ: AAPL).

“Analysis of historical elasticity suggests rev upside for iPad/Mac given recent price hikes, while our BOM analysis implies price hikes are likely protecting margins.

As such, we expect $200 iPhone price hikes in Sept. All else equal, this could drive 2-4% upside to F3Q EPS / 1% upside to FY27 EPS.”

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