Apple stock gains 1.02 percent as Morgan Stanley cuts target
Published on 10/03/2026 at 23:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Apple stock (ISIN US0378331005) was last at USD 333.69 on Nasdaq on October 2, 2026, up 1.02 percent from USD 330.32. The move came as Morgan Stanley reduced its price target, keeping the debate centered on product growth versus margin pressure.
Morgan Stanley trims its target
According to Yahoo Finance on October 1, 2026, Morgan Stanley lowered its Apple target to USD 355 from USD 360 and maintained an Overweight rating.
The change puts the target USD 21.31 above the October 2 price, equivalent to 6.4 percent upside. Morgan Stanley said the fall product cycle could support revenue, while lower iPhone average selling prices and higher memory costs may offset much of the earnings benefit.
Q3 revenue reached USD 109.4 billion
Yahoo Finance reported that Apple posted fiscal Q3 revenue of USD 109.4 billion, up 16 percent year over year, while iPhone, Mac and Services each reached June-quarter revenue records. Diluted earnings per share stood at USD 2.02.
The figures give the stock a fundamental counterweight to the target reduction. Revenue growth remained double digit, but the analyst view implies that product demand alone may not translate into an equally strong earnings revision when component costs and pricing mix move in the opposite direction.
Foldable iPhone sets the next test
As CNBC reported on October 1, 2026, Apple's first foldable iPhone is scheduled for preorder on October 16, with its official release scheduled for October 23. Morgan Stanley expects the device to contribute to future upgrade cycles, although its initial financial effect is projected to be limited.
Apple's next earnings report is scheduled for October 29, 2026, according to Gekko. That report will show whether the 16 percent fiscal Q3 revenue increase is carrying into the new product cycle.
Stock remains below its yearly high
Apple was last at USD 333.69 on Nasdaq on October 2, 2026, with a session range of USD 330.61 to USD 334.54. The stock stood 3.37 percent below its 52-week high of USD 345.34, while its market capitalization was USD 4.9 trillion and volume reached 31,878,433 shares.
Apple stock facts
- Company: Apple Inc.
- ISIN: US0378331005
- Ticker: AAPL
- Trading venue: Nasdaq
- Price (as of October 2, 2026, 4:00 p.m. ET): USD 333.69
- Market capitalization: USD 4.9 trillion (as of October 2, 2026)
- 52-week range: USD 243.42-345.34 (as of October 2, 2026)
- Sector / Industry: Technology / Consumer Electronics
