Wall Street sets Apple and Amazon price targets for next 12 months

Group 1: Apple Performance - Apple reported fiscal third-quarter earnings per share of $1.57, exceeding the projected $1.43 [2] - Revenue increased nearly 10% to $94 billion, surpassing the estimate of $89.2 billion [2] - The Services segment achieved a record revenue of $27.4 billion, accounting for nearly 30% of total revenues [2] Group 2: Analyst Reactions to Apple - BofA Securities raised its price target for Apple to $240 from $235, maintaining a Buy rating due to stronger-than-expected results [3] - Morgan Stanley also increased its target to $240 from $235, citing better-than-expected performance across products and services [3] - Barclays modestly raised its target from $173 to $180 [3] Group 3: Amazon Performance - Amazon reported $168 billion in revenue and $19.2 billion in profit for the second quarter, both exceeding Street estimates of $162 billion and $17 billion [4] - AWS cloud business revenue grew 18% to $30.87 billion, meeting expectations but lacking acceleration compared to competitors [4] Group 4: Analyst Reactions to Amazon - Barclays significantly raised its price target for Amazon to $275 from $240, suggesting AI could enhance AWS growth [5] - BofA Securities increased its target to $272 from $265, highlighting a 12% year-over-year growth in Amazon's retail business [5] - DA Davidson raised its target to $265 from $230, while UBS maintained its target at $271 despite concerns over cloud growth [6]