Morgan Stanley Raises Apple Stock Target on Strong iPhone 17 Sales
Morgan Stanley has boosted its Apple stock price target, citing robust iPhone 16 sales. The tech giant is ramping up production of the iPhone 17, particularly the iPhone 16 Pro models, while the iPhone Air's sales are underwhelming.
Apple is upping its iPhone 17 production, with more units allocated to the iPhone 16 Pro line due to surging demand. The iPhone 16 Pro and Pro Max are selling faster than anticipated, while the iPhone Air is not meeting sales forecasts. This suggests Apple's mid-tier market push has had a slow start.
Looking ahead, Morgan Stanley expects a stronger 2026 iPhone news cycle. The investment bank predicts Apple will launch six new models, including a long-awaited foldable iPhone. If Apple's rumoured 'Apple Intelligence' features hit big, the company could sell up to 270 million iPhones in 2026.
Apple's iPhone sales are driving Morgan Stanley's bullish outlook. The tech giant is set to introduce six new models in 2026, including a foldable iPhone, which could boost sales to 270 million units if new features prove popular.
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