Banking giant sets Apple (AAPL) stock price as iPhone 16 numbers disappoint

Morgan Stanley (NYSE: MS) has revised its outlook for Apple’s (NASDAQ: AAPL) share price, citing concerns around the lead time estimates for the company’s latest iPhone 16 series.In the updated outlook, the bank’s analyst Erik Woodring predicted a near-term target of $200 or an 8% drop from the stock’s current valuation of around $219, the banking giant said in an investor note on September 18.To back this sentiment, Morgan Stanley’s data indicated that iPhone 16 lead times are down 33% year-over-year in th ...