Apple stock gains 1.02 percent as Morgan Stanley trims target

Published on 10/04/2026 at 10:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Morgan Stanley lowered its target to USD 355 from USD 360 on October 1, 2026, while keeping Overweight. Apple reported Q3 FY26 revenue of USD 109.42 billion.

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Apple stock (ISIN US0378331005) closed at USD 333.69 on Nasdaq on October 2, 2026, up 1.02 percent from the previous close. The immediate catalyst is Morgan Stanley's October 1 target cut from USD 360 to USD 355, while the bank retained its Overweight rating.

Morgan Stanley trims its target

According to Yahoo Finance on October 1, 2026, Morgan Stanley reduced its Apple price target to USD 355 from USD 360 and kept Overweight. At the October 2 closing price, the revised target lies 6.4 percent above the stock.

MarketBeat lists a Moderate Buy consensus from 42 analysts, with 27 buys, 13 holds and 2 sells. Its average target is USD 340.02, while the highest is USD 400.00 and the lowest is USD 245.00, putting the average 1.9 percent above the October 2 close.

Q3 revenue sets a higher base

Apple's latest reported quarter was fiscal Q3 2026, ended June 27, 2026. Revenue reached USD 109.42 billion, up 16.4 percent year over year, while diluted EPS was USD 2.02 against USD 1.89 consensus, according to MarketBeat.

Apple identifies the June 27 quarter as FY26 third-quarter results in its investor-relations materials. The comparison matters because the share price has moved close to the yearly ceiling while earnings growth remains the central support for the valuation.

Legal risk adds a counterweight

A federal jury awarded more than USD 5.7 billion against Apple in a September 25, 2026 verdict involving haptic patents used in the iPhone and Apple Watch, as CNBC reported. Apple said its Taptic Engine is fundamentally different from the technology at issue and will appeal.

Apple stock remains below its high

Apple traded within a USD 243.42 to USD 345.34 52-week range on October 2, 2026, with volume of 31,878,433 shares. Its market capitalization was USD 4.9 trillion on the same date, leaving the stock 3.4 percent below the 52-week high.