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Investment bank Morgan Stanley says there are signs of increased iPhone, Mac, and Services revenue for Apple, but it has cut its target price by $10.
Apple Park
Apple Park
One week after claiming that Apple has increased its June quarter iPhone orders, Morgan Stanley now says that there are also rises in demand for other devices. Specifically, in a note to investors seen by AppleInsider, its analysts say that Mac shipments have grown year over year, which contributes to a rising March quarter revenue.
The analysts further say that the supply chain is reporting around a 5% increase for the iPad above forecasts, or 11 million units instead of 10.5 million. Morgan Stanley has hiked its forecast for Services by 1%, based on what it believes to be stronger than expected App Store performance.
Originally appeared here:
Morgan Stanley weirdly bullish on iPhone as it trims Apple stock price target
