Morgan Stanley Raises Apple Price Target To $315

Morgan Stanley on December 17 raised its Apple price target to $315 from $305 and maintained an Overweight rating, citing an unchanged 32x multiple on new FY27 EPS of $9.83 (up from $9.55). The firm raised FY27 revenue and EPS forecasts due to 5% higher revenue from price hikes and slightly higher iPhone shipments, while flagging lower gross margins from higher memory costs and elevated opex for incremental AI investments.
Key Points
- 1Raised price target to $315 on Dec. 17, citing FY27 EPS of $9.83.
- 2Cited 5% higher revenue from price hikes and slightly higher iPhone shipments despite margin pressure.
- 3Indicated elevated opex for incremental AI investments, implying sustained investment cycle affecting profitability and valuation.
Scoring Rationale
Official Morgan Stanley upgrade and AI investment detail increase relevance, limited by analyst projection rather than definitive company action.
Sources
Public references used for this report.
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