Apple Inc. shares have come under selling pressure after the company’s fourth-quarter revenues missed expectations amid supply chain constraints. The Apple Analysts Morgan Stanley analyst Katy Huberty maintained an Overweight rating on Apple shares and reduced the price target from $166 to $164. Oppenheimer analyst Martin Yang reiterated an Outperform rating and raised the price target from $165 to $170. Wells Fargo Securities analyst Aaron Rakers maintained an Overweight rating and $165 price target. Raymond James analyst Chris Caso reiterated an Outperform rating and $185 price target. Needham analyst Laura Martin maintained a Buy rating and $170 price target. BofA Securities analyst Wamsi Mohan reiterated a Buy rating and $160 price target. What Morgan Stanley Learned From Apple’s Q4 Taking into account the $1.5 billion worse-than-expected supply chain headwind, September quarter revenues would have been in line with the consensus estimate of $84.8 billion, Morgan Stanley analyst Huberty said. Additionally, …
Why Apple Analysts Prefer to Look Past Supply Chain Challenges, Remain Bullish After Q4 Revenue Miss
October 31, 2021
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