Morgan Stanley analyst Erik Woodring raised the firm’s price target on Apple (AAPL) to $235 from $220 and keeps an Overweight rating on the shares. The firm expects March quarter results and June quarter guidance to “modestly” exceed consensus, though it sees some downside to June quarter gross margins given the tariff backdrop, the analyst tells investors in a preview. The firm forecasts March quarter revenue of $95.7B and EPS of $1.64, both of which are slightly ahead of consensus, on strong Product pull-forward, a weaker U.S. dollar and 12% Services growth, Morgan Stanley added.
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