Morgan Stanley analyst Erik Woodring raised the firm’s price target on Apple (AAPL) to $305 from $298 and keeps an Overweight rating on the shares, arguing after earnings that iPhone momentum keeps estimate revisions “biased upwards.” iPhone growth is accelerating, Services is outperforming, and Apple is protecting gross margins better than the firm expected, says the analyst, who adds that AI spending looks to drive R&D expense materially higher in FY26.
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