The good news from Morgan Stanley analyst Katy Huberty: she expects Apple to beat consensus when it reports earnings for 1QFY2022. The bad news in her note… well, it isn’t bad. More tepid, really. Apple 3.0 ran part of her note, wherein she says “Revenue stability, upcoming product launches, and expansion into new markets,” are what make Apple attractive going forward, not what or how it did last quarter. Her thinking seems to be that any holiday-quarter boost is already baked in.
Huberty has an “Overweight” rating on Apple shares. Her price target on the shares is $200.
