Apple debate ‘little changed’ after Q4 report, says Morgan Stanley

Morgan Stanley analyst Erik Woodring argues that Apple’s (AAPL) September-end quarter results and “mixed” December quarter guidance “provided something for bulls and bears, leaving the “debate little changed.” While the firm believes shares are likely to be range-bound in the near-term, it believes downside is limited and wants to be “early to the iPhone 17 party,” the analyst tells investors. The firm maintains an Overweight rating and $273 price target on Apple shares.