Here's How Morgan Stanley Previews Apple Ahead Of Q2

Morgan Stanley analyst Katy Huberty saw Apple Inc AAPL iPhone 13 and Mac strength more than offset relative underperformance in iPad and Services, leading her to expect upside to the Street's consensus March quarter (Q2) revenue forecast.
Huberty also saw more cautious commentary on the June quarter (Q3) consensus of $86.7 billion, which appeared too high due to China's COVID lockdowns.
Huberty had a more conservative estimate for Q3 after factoring in "lower April production/factory utilization and recent iPhone SE3 build cuts."
Also Read: Here's How Analysts View Apple's Latest Products, Services
Huberty looked to buy any weakness ahead of product launch catalysts she sees coming later this year.
Intense buyback activity will continue to offer support to the stock, while the launch of iPhone 14 in the fall of 2022 and AR/VR glasses in early 2023 will serve as critical catalysts for shares.
Huberty maintained an Overweight rating and $210 price target (25.8% upside) on Apple shares.
Price Action: AAPL shares traded lower by 0.21% at $167.05 on the last check Wednesday.
Photo by Jan Kuss from Pixabay

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