From Financial Modeling Prep: 2024-12-13 07:58:00

Morgan Stanley analysts reiterated an Overweight rating on Apple (NASDAQ:AAPL) with a price target of $273, noting recent outperformance compared to the S&P 500. They are confident in Apple’s long-term growth potential, expecting earnings per share to reach over $8.50 by fiscal 2026.

Despite market dynamics and short covering contributing to recent gains, Apple’s next iPhone cycle and strong Services segment growth are driving stock performance. Near-term demand trends show mixed results, with iPhone and product revenue limited by global availability of Apple Intelligence.

Analysts project a calm period in fiscal 2025 before significant acceleration in 2026 fundamentals for Apple. Five key reasons for optimism include limited risks from Google TAC, anticipated acceleration in iPhone replacement cycles, minimal exposure to China import tariffs, sustained double-digit growth in Services, and potential upside in iPhone gross margins.



Read more at Financial Modeling Prep:: Apple Maintains Momentum with Bullish Outlook Amid…