Apple upgrade lift
Apple shares got a lift after a Morgan Stanley survey showed record iPhone upgrade rates — the stock is trading near $251.49 after the survey bumped sentiment. Bank of America trimmed its price target to $320 (from $325), citing “staggered” EPS growth and forecasting $8.36 in EPS for 2026 and $9.53 for 2027, while Apple is expected to announce three big software/developer updates before the end of March. ( )
Morgan Stanley’s late-2025 AlphaWise global smartphone survey put blended next‑12‑month iPhone upgrade intent at about 37%, up roughly 2 percentage points year‑over‑year, with China showing a roughly 9‑point jump to record levels. (finance.biggo.com) Analyst Erik Woodring reiterated an Overweight rating and maintained a $315 price target, saying the AlphaWise results support the view that Apple is the only major vendor likely to gain share in 2026. (benzinga.com) The survey fueled a modest market reaction — shares rose about 1% in premarket trade on the news — while MarketBeat recorded roughly 7.2 million intraday shares traded that session versus an average daily volume near 48 million. (benzinga.com) Bank of America cut its price target to $320 from $325 and revised its EPS model, lowering estimates to $8.36 for fiscal 2026, $9.53 for 2027 and $10.64 for 2028 as it factored in a product timing push that would stagger earnings growth. (thestreet.com) BofA’s Wamsi Mohan said supply‑chain checks point to a 2026 foldable iPhone with a 7.7–7.8‑inch inner panel and modeled initial shipment scenarios of roughly 10 million to 20 million units, a timing and volume mix that influenced the firm’s near‑term EPS pacing. (thestreet.com) Apple’s software cadence adds another variable: Apple has released an iOS 26.4 release candidate with rollout expected March 23–25, may seed an iOS 26.5 beta around March 30 for early Gemini‑powered Siri features, and has confirmed WWDC 2026 for June 8 when iOS 27 and other developer updates are expected. (businesstoday.in)
