Morgan Stanley: Apple Tactical Long, $315 Target

Morgan Stanley analyst Erik Woodring labels Apple a tactical long into earnings, forecasting a modest 1‑2% upside versus consensus estimates.
For June quarter, Morgan Stanley projects revenue 5% above Street, EPS $1.74, but gross margins 170 bps below consensus.
The bank cites strong iPhone, Mac, Services revenue and upcoming catalysts—WWDC, supply‑chain checks, and a foldable iPhone launch—to support the stock.
Morgan Stanley rates Apple overweight with a $315 price target, based on FY2027 EPS $9.76, implying a path to $300 by September.