Notwithstanding supply constraints, an analyst at Morgan Stanley is positive about Apple Inc.’s December quarter performance.
Apple Analyst
Morgan Stanley analyst Katy Huberty has an Overweight rating and a $200 price target for Apple shares.Apple Thesis
Cupertino is likely to post upside to Street forecasts for the December quarter and guide to a relatively in-line March quarter, thanks to improving iPhone production into year-end and modest Services outperformance, Huberty said in a note. Since hitting a low on Oct. 4, Apple’s shares are up 19 percent, suggesting the December quarter upside is largely priced in, she added.The analyst models December quarter revenues of $122.3 billion, a 41.9 percent gross margin and $1.97 per share in earnings. Apple’s management will likely shed light on its active device and iPhone installed base, the analyst said.
