$AAPL - MORGAN STANLEY SEES APPLE ENTERING MAJOR PRODUCT CYCLE

Morgan Stanley cut its Apple price target to $355 from $360, while maintaining an Overweight rating.

The bank says Apple’s next 2+ years of innovation under new CEO John Ternus could be among its most consequential in over a decade, driving four consecutive years of iPhone unit growth.

Morgan Stanley forecasts EPS near $10 in FY27 and $11 in FY28, with earnings compounding around 13% through FY28.
(@WalterBloomberg)