Morgan Stanley cuts AAPL price target to $156 over stagnant peer stock prices

Morgan Stanley has raised its 2021 and 2022 Apple Services revenue forecast, but has revised its AAPL price target down to $156 to reflect warier investor outlooks surrounding the company’s peers.

Credit: Andrew O'Hara, AppleInsiderCredit: Andrew O’Hara, AppleInsider

In a note to investors seen by AppleInsider, lead analyst Katy Huberty has raised her already above-consensus Services revenue estimates by 3% for 2021 and by 5% for 2022. She adds that she’s “increasingly convinced” that Wall Street Services forecasts for those two years are too low.

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