Apple (AAPL) Gets $235 Price Target from Morgan Stanley After China iPhone Demand Surprises
Apple Inc. (NASDAQ:AAPL) is one of the . On June 13, Morgan Stanley reiterated the stock as 'Overweight' with a $235 price target.
The investment bank said that its Apple checks demonstrate how iPhone and iPad estimates are tracking ahead. The firm also said the iPhone and iPad sell-through in China are 'positively surprising.'
The 'deep' 618 Festival channel promotions in China have been successful in driving upside to both iPhone and iPad sell-through in the June quarter. The firm now sees an estimated 3 M units of upside to its June quarter iPhone shipments forecast and an estimated 2.5 M units of upside to June quarter iPad shipments or $4 B revenue upside, all else equal.
10 Smartphones with the Best Cameras and Battery Life
The analyst added how September quarter builds are tracking in line to slightly better. This implies that 'Apple (AAPL) could catch a short-term bid.'
'Furthermore, despite trending below normal seasonality, preliminary September qtr iPhone/iPad builds point to in-line to slightly better than expected September qtr iPhone/iPad shipments.'
While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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