Apple Price Target Trimmed By Rosenblatt
2022.05.02 23:15
By Sam Boughedda
Investing.com — Apple’s (NASDAQ:AAPL) price target was cut to $168 from $184 by Rosenblatt analyst Barton Crockett on Monday.
The analyst, who kept a neutral rating on Apple shares, was quoted by The Fly as saying that while the company’s March report, released last week, was “constructive,” it was also tempered by expectations of larger supply chain disruptions in the June quarter.
Crockett added he doesn’t know when China “ceases to be a covid risk for Apple.”
Elsewhere, Morgan Stanley (NYSE:MS) analyst Katy Huberty reiterated an overweight rating and $195 price target on Apple.
Huberty revealed that analysis of the company’s 10Q indicated a rise in supplier inventories showing supply chain disruption and SE3 builds. However, a balance sheet inventory unwind emphasizes expected improvements.
Apple shares are up just 0.1% Monday.
