Morgan Stanley Raises Target Apple Stock Price, Expects All-Time Record Earnings

Morgan Stanley raised Apple’s target share price to $ 152, ahead of what could be an “all-time record” gain.

In a note to investors sent by Philip Elmer-DeWitt Katy Huberty writes:

Our recent conversations suggest that investors expect Apple to release solid, but not exceptional, December quarter results. We disagree and believe Apple can report all-time record quarterly revenue and earnings.

Our controls aim to strengthen across Apple’s entire portfolio of products and services and we model double-digit Y / Y growth for all 5 revenue segments in the December quarter, with upside risk for iPhone, Mac and services.

Specifically, Morgan Stanley estimates Apple’s December quarter earnings will be $ 108.2 billion, 5% higher than the consensus. This would be due to an estimated earnings per share of $ 1.50, about 7% above consensus.

According to reports earlier this week, consensus earnings per share for Apple stood at $ 1.39 billion. From that report:

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