On November 3, Morgan Stanley lowered Apple's target price from $355 to $350, maintaining the “Overweight” rating. The bank pointed out that the growth of Apple's service business is slowing down mainly by App Store revenue, third-party licensing services, and exchange rate factors. At the same time, it has raised market concerns that artificial intelligence may impact some of Apple's service businesses. However, Morgan Stanley is still optimistic about Apple's product competitiveness and pricing capabilities, and believes that its growth momentum is expected to continue until the 2027 fiscal year.

On November 3, Morgan Stanley lowered Apple's target price from $355 to $350, maintaining the “Overweight” rating. The bank pointed out that the growth of Apple's service business is slowing down mainly by App Store revenue, third-party licensing services, and exchange rate factors. At the same time, it has raised market concerns that artificial intelligence may impact some of Apple's service businesses. However, Morgan Stanley is still optimistic about Apple's product competitiveness and pricing capabilities, and believes that its growth momentum is expected to continue until the 2027 fiscal year.