Investment bank Morgan Stanley says Apple’s forthcoming earnings call will be “a clearing event,” that stops short term concerns and gets investors looking at the company’s signs of future growth.
Ahead of Apple’s holiday quarter earnings report on February 1, 2024, Morgan Stanley has maintained its $220 price target, but continues to expect growth overall in the longer term.
“[Near-term] Product demand remains uneven, while Services is outperforming,” says Morgan Stanley, “which we believe will result in a healthy December quarter beat, but March quarter guide down.”
