Morgan Stanley expects that “deep” 618 Festival channel promotions in China are driving higher-than-expected iPhone and iPad sell-through for the June quarter. The firm now anticipates approximately 3.0 million more iPhone units and 2.5 million more iPad units than previously forecast, which could translate to a $4 billion revenue increase, assuming no other changes.
The analyst noted that September quarter builds are tracking in line or slightly better.
It is worth noting that on June 9, [CNBC] Mad Money host [Jim Cramer] said:
Hey, finally there’s a stock that people now love to downgrade… I’m talking about Apple. I expect to hear some downgrades tomorrow because of today’s supposedly ho-hum Worldwide Developers Conference… But what the critics seemed to be missing constantly is that the only question I heard was upgrade or not. Did you hear switch? I didn’t hear switch. As long as I didn’t hear switch, I’m going to hold the stock…
MacDailyNews Take: On June 13th, Morgan Stanley reiterated its Overweight [Buy] rating on AAPL shares and its $235 price target.
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Hope this positive news moving Apple stock out of stagnation for a long while now.
$235 it goes.