Morgan Stanley bumps Apple price target to $161 after record March quarter

Morgan Stanley has raised its AAPL price target to $161 from $158 after Apple reported better-than-expected and record-setting earnings for its second quarter.

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

In a note to investors seen by AppleInsider, lead Morgan Stanley analyst Katy Huberty writes that strength across Apple’s portfolio and across all geographies suggests that the company’s revenue strength is sustainable. As a result, she believes 2021 and 2022 Wall Street forecasts should move materially higher.

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