Apple price target raised to $294 from $280 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Apple (AAPL) to $294 from $280 and keeps a Buy rating on the shares post the fiscal Q1 report. The company’s earnings beat on better gross margins and in-line revenue as the iPhone and Wearables miss was offset by a iPad and Mac beat, the analyst tells investors in a research note. The firm says Apple Intelligence, which has yet to have all of its features rolled out, is already helping iPhone sales. In addition, iPhone upgraders reached a record high in the quarter, says Goldman. It views Apple’s outlook as “better-than-feared.”