$Morgan Stanley (MS.US)$ raised its price target on Apple $A...

$Morgan Stanley (MS.US)$ raised its price target on Apple $Apple (AAPL.US)$ to $273 up from $216 while maintaining its Overweight rating

"Our analysis suggests Apple will ship nearly 500 million iPhones over the next two years (235m in FY25, 262m in FY26), 6% higher than the record FY21-FY22 cycle. This will drive 5% annual iPhone ASP growth, resulting in nearly $485 billion of total revenue and $8.70 in earnings power by FY26 (vs. $459 billion and $8.20 previously), 7-9% above consensus."