Morgan Stanley keeps Apple at Overweight after product event
Analyst Erik Woodring said Apple’s reported new hardware and software offerings point to stronger innovation and potential above-trend growth into fiscal 2027.
Morgan Stanley has reiterated its Overweight rating and US$360 price target for Apple, saying the company’s reported 9 September product event offered a more compelling view of its innovation pipeline.
Analyst Erik Woodring said Apple’s hardware and software offerings appeared “more exciting” than in recent years. The assessment cited the reported foldable iPhone Duo, iPhone 18 Pro models and upgrades to Apple Intelligence and Siri as potential drivers of above-trend growth into fiscal 2027.
Apple shares reportedly closed at US$332.27 on 11 September after rising the previous session. The source said the stock had gained as investors responded to the reported product announcements, although Morgan Stanley’s growth outlook remains a forecast rather than an established outcome.
The company reportedly generated US$109.4 billion in fiscal third-quarter 2026 revenue, up 16.4 per cent from a year earlier. Services revenue rose 12.1 per cent, indicating slower growth in a business that remains an important part of Apple’s earnings profile.
Other analysts have taken a more measured view. UBS reportedly maintained a Neutral rating and US$296 target, while BofA Securities retained its Buy rating but cut its target to US$370 from US$380.
The product event was reportedly Apple’s first major showcase under chief executive John Ternus, who succeeded Tim Cook on 1 September. Whether the reported product cycle can translate Morgan Stanley’s optimism into sustained earnings growth remains the key issue for investors.
