Apple (AAPL) Price Target Raised to $330 Following Strong Earnings

AI Summary

Morgan 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.