Morgan Stanley has cut its price target for Apple to $205 per share, down from $220, citing slower iPhone sales in China and subdued global device upgrades.
The report notes that while Apple’s services division continues to perform strongly, hardware weakness could limit near-term earnings momentum. Analysts maintain an “Equal Weight” rating, suggesting the stock’s risk-reward is now balanced.
The downgrade underscores a broader caution across the consumer tech sector, where high-end spending remains fragile despite robust brand loyalty.
Sources
Morgan Stanley Equity Research, CNBC, Financial Times, Reuters
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