Apple has multiple catalysts for strong revenue growth, so investors shouldn’t be spooked by any margin pressure from rising memory costs, according to a Morgan Stanley analyst.
“We see a path to $300 for Apple shares by this September,” Morgan Stanley analyst Erik Woodring wrote in a research note on Monday. That target is above Apple’s all-time closing high of $286.19, set on December 2, 2025.
Angela Palumbo for Barron’s:
“Memory inflation will pressure margins, but this is well-known, and iPhone revenue upside sets up for a better than feared June quarter guide,” Woodring wrote.
He added that any announcements regarding an AI powered Siri at the company’s Worldwide Developers Conference in June, and the expected release of a foldable iPhone, would be positive tailwinds that can help push the stock higher after earnings.
Woodring, who rates the stock as Overweight with a $315 price target, also thinks Apple stands out against large tech peers as the company continues to report strong free cash flow while competitors continue to spend massive amounts of capex on building out AI infrastructure.
MacDailyNews Take: From Woodring’s lips to Mr. Market’s ears!
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