Apple (AAPL) Price Target Raised to $330 Following Strong Earnings
Published on · Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowMorgan Stanley raised its price target for Apple (AAPL) to $330 from $315 after the company reported stronger-than-expected earnings for the March quarter. Apple's Services revenue grew by 16.3% year over year, exceeding Morgan Stanley's forecast of 14%. Total revenue for Q2 reached $111.2 billion, a 17% increase year over year, with diluted EPS of $2.01, a 22% rise. The guidance for the June quarter indicated gross margins between 47.5% and 48.5%, reflecting Apple's strong pricing power despite rising memory costs, which is significant for its market position.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Apple Inc. (AAPL)
Apple designs and sells consumer electronics: the iPhone, Mac, iPad and Apple Watch. It also runs a fast-growing services business spanning the App Store, iCloud and Apple Pay.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
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