Morgan Stanley analyst Erik Woodring raised the firm’s price target on Apple to $216 from $210 and keeps an Overweight rating on the shares. In addition to reaching an all-time Services revenue and gross margin record and authorizing its largest incremental buyback in history, Apple guided to an above-Street June quarter view, which alleviated concerns about China iPhone, the analyst tells investors in a post-earnings note. With Apple also having hinted at Gen AI announcements to come in weeks, the firm says “it’s hard not to be more bullish after that.”
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