Apple (AAPL – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Erik Woodring from Morgan Stanley maintained a Buy rating on the stock and has a $252.00 price target.
Erik Woodring has given his Buy rating due to a combination of factors that influence Apple’s market position and future growth prospects. Despite the delay in the rollout of an advanced Siri, which is expected to slow down the iPhone upgrade cycle, Woodring anticipates that the introduction of new AI features, enhanced global distribution, upgraded hardware, and a new iPhone form factor will drive a significant upgrade cycle starting in FY26. This is expected to support Apple’s market performance over the next year.
Additionally, while Apple faces challenges such as increased costs due to China tariffs, Woodring believes that the company’s efforts to mitigate these costs will help maintain its financial stability. Although the earnings forecast for FY26 has been adjusted to reflect these headwinds, the projected earnings power and a revised price target of $252, based on a 30x target multiple, still suggest a positive outlook for Apple’s stock. These factors collectively underpin Woodring’s Buy rating for Apple.
Woodring covers the Technology sector, focusing on stocks such as Apple, International Business Machines, and Logitech. According to TipRanks, Woodring has an average return of 0.9% and a 55.63% success rate on recommended stocks.
In another report released on March 10, Citi also maintained a Buy rating on the stock with a $275.00 price target.
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