Apple’s stock took a hit after Morgan Stanley cut its price target, citing weak iPhone demand and delays in advanced Siri upgrades. Analyst Erik Woodring reduced the price target from $275 to $252, citing an upgraded Siri as the key AI feature prospective iPhone upgraders are interested in.
The analyst’s views on AAPL stock highlighted concerns about iPhone sales and tariffs on Chinese goods, which could impact Apple’s profits. Morgan Stanley lowered its Apple iPhone sales forecasts for 2025 and 2026, citing a “flatter replacement cycle curve.”
As a result, the firm reduced its estimates of $436 billion in revenue and $8 per share for FY26, expecting lower growth. The stock now has a consensus Moderate Buy rating among Wall Street analysts, with an average price target of $250.20.
Despite the cut, Morgan Stanley maintained an Overweight (equivalent to Buy) rating on AAPL stock, indicating that investors may still see upside potential from current levels.
Source: https://www.tipranks.com/news/morgan-stanley-cuts-the-price-target-on-apple-stock