Apr 21, 2021 09:21 PM (GMT+8)
Katy Huberty, an analyst at Morgan Stanley, raised Apple's target price from $157 to $158, maintaining its "overweight" rating. She said she was "very confident" that Apple's first quarter results exceeded market expectations. She believes that a strong quarterly report, coupled with institutional investors' expectations of "lower profile" relative to first quarter earnings, can help the company's share price "revalue" in the face of poor performance so far this year. The analyst raised Apple's first quarter revenue forecast to $80.2 billion. At the same time, her forecast for revenue and earnings per share in the second quarter is 4% - 5% higher than the general market expectation.
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