Morgan Stanley cuts Apple price target to $355, keeps Overweight rating
Morgan Stanley lowered its price target for Apple from $360 to $355 while maintaining an Overweight rating. The bank also trimmed its fiscal 2027 and 2028 EPS forecasts to $9.90 and $10.70 respectively. The revision follows concerns about iPhone pricing pressure and higher memory costs, despite optimism about product innovation under CEO John Ternus.
Why it matters
Morgan Stanley says the reduced target reflects limited upside after a strong six‑month run, which may temper investor expectations for near‑term price appreciation. The lower EPS forecasts suggest modest earnings growth, potentially influencing valuation models that rely on analyst estimates.
Key facts
- 1Morgan Stanley reduced Apple’s price target from $360 to $355. marketscreener.com
- 2The firm kept an Overweight rating on the stock. marketscreener.com
- 3Morgan Stanley lowered fiscal 2027 EPS estimate to $9.90. gurufocus.com
- 4Morgan Stanley lowered fiscal 2028 EPS estimate to $10.70. gurufocus.com
- 5Apple’s stock closed at $333.02 on Oct. 1, 2026. marketscreener.com
- 6Apple’s market capitalization was reported as $4.86 trillion. investing.com
Open questions
- Material 2 lists Apple’s market cap as $4.86 trillion, while material 3 lists it as $4.79 trillion.
Summary written by AlphAI from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.