Morgan Stanley has raised its AAPL price target to $164 on blockbuster Apple December quarter results, and said that products like the iPhone could see continued strength in the second quarter.
Credit: Andrew O Hara, AppleInsider
In a note to investors seen by
AppleInsider, Morgan Stanley analyst Katy Huberty said that some of the highlights of Apple s Q1 2021 earnings report were faster iPhone share gains, installed base growth, and services monetization.
Those factors, along with a refreshed product lineup and a continued remote education and learning environment, hint at strong double-digit growth over the next several quarters, Huberty said.
Other key metrics support an overall faster growth outlook in the long term. They include an acceleration in Apple s installed base growth from 7% to 10% and services monetization, as well as a recovery in China.
Morgan Stanley has raised its Apple price target to $152 on expectations of a strong December quarter across its product and services portfolio.
In a note to investors seen by
AppleInsider, analyst Katy Huberty says that recent checks indicated that 5G adoption, the switch to remote education and work, and sustained App Store engagement all drove Apple to a potential blockbuster of a December quarter. Our recent conversations suggest investors expect Apple to release solid, but not great, December quarter results, Huberty writes. We disagree and believe that Apple is likely to report all-time record quarterly revenue and earnings.
The analyst expects Apple to report double digit year-over-year growth across all five of its revenue segments, with some risk skewed to the upside for the iPhone, Mac, and Services.
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