Apple price target raised to $330 from $315 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Apple (AAPL) to $330 from $315 and keeps an Overweight rating on the shares. The stock in premarket trading is up 3%, or $8.80, to $280.15. The company reported a “clean” fiscal Q2 report with a “remarkable” Q3 margin outlook, the analyst tells investors in a research note. Morgan Stanley is now more confident in Apple’s ability to mitigate record cost inflation. The company is in a product cycle with “upside optionality” from its developer conference and upcoming foldable phone, contends the firm. Morgan Stanley calls Apple a “thematic Megacap winner.”