Apple(US:AAPL) 智通财经网·2025-06-27 06:49Group 1 - Morgan Stanley maintains an "overweight" rating on Apple (AAPL.US) but lowers the target price from $240 to $230 due to slowing mid-term revenue and profit growth, as well as adverse macroeconomic factors [1] - Analyst Samik Chatterjee indicates that updated revenue and profit forecasts reflect the impact of early consumer demand release for iPhones, leading to weakened demand drivers in the second half of the year, particularly with minor upgrades expected for the iPhone 17 series [1] - The analysis highlights a pessimistic outlook for iPhone 17 series sales, contrasting with a more optimistic view for the iPhone 18 cycle, which is expected to introduce foldable phones and advancements in anticipated AI features [1] Group 2 - The adjustment implies a modest single-digit percentage growth expectation for Apple's revenue in the fiscal year 2026, with stronger growth anticipated in fiscal year 2027, providing a basis for investment logic for those interested in AI edge feature adoption [2] - Analysts expect Apple's quicker transition of iPhone assembly supply chains to India to alleviate initial investor concerns regarding margin pressure, although tariff pressures may lead to price increases, limiting sales growth momentum for the upcoming iPhone 17 series [2] - In addition to lowering profit forecasts, analysts slightly adjust valuation multiples to reflect potential downside risks to mid-term profit expectations, while noting strong recent demand drivers, partly due to smartphone subsidies in China, which may result in robust financial results for Apple in Q3 of fiscal year 2025 [2]