Apple’s iPhone orders in March 2024 were better than expected – Morgan Stanley

iPhone 15
Morgan Stanley is bullish on what they see as better than expected iPhone order volume across Apple’s supply chain in recent weeks.
Mike Wuerthele for AppleInsider:
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[Morgan Stanley analystErik Woodring notes that the firm’s Greater China team has raised June quarter iPhone builds — which will partially encompass the fall iPhone 16 cycle.
The investment firm does note that Apple has had the worst start in a calendar year in a decade. At the same time, that in recent weeks there has been an upside to previous predictions, up to 5 percent more than previously predicted.
Woodring’s positive estimates are derived from conversations with Foxconn. They are then paired with strong interest in older iPhone model sales in emerging markets, and stability everywhere other than China.
The note points out that there is a March quarter revenue upside to the estimates, and potentially less June-quarter downsides than previously predicted.

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MacDailyNews Take: Morgan Stanley maintains its $220 price target on Apple shares.
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