Morgan Stanley, an investment bank, released an investment research report today, praising Apple’s target stock price from $162 to $166 and continuing to maintain its stock overweight rating. Morgan Stanley analyst Katy Huberty said that the increase in Apple’s target stock price is not only due to its strong second-quarter (third quarter of fiscal 2021) performance but also due to iPhone and iPhone Optimistic outlook for the service business.
Hubert predicts that Apple’s iPhone production in the second quarter of this year increased by 6% year-on-year, and iPhone shipments reached 44 million. At the same time, iPad production increased by 28% year on year, and shipments reached 17.6 million units.
Although the sales of Mac computers are slightly lower than Morgan Stanley’s expectations, they have increased year on year. Hubert quoted IDC data as saying that Apple shipped 6.1 million Macs in the second quarter, an increase of 9% year on year. Morgan Stanley had previously expected Mac computer sales to be 6.4 million units.
Hubert also predicts that the App Store’s revenue in the second quarter will be $16.7 billion, a year-on-year increase of 27.1%. Overall, Apple’s total revenue in the second quarter will reach 74.7 billion US dollars, 2% higher than the market’s average expectation and a year-on-year increase of 25%. The profit margin is expected to be 41.8%.
Looking ahead to the third quarter (Apple’s fourth fiscal quarter), Hubert expects that, driven by the iPhone, Apple’s third-quarter revenue is expected to reach 83.2 billion U.S. dollars. Hubert said that the iPhone 13 will be assembled in late August.
Hubert also predicts that in the second half of 2021, iPhone 13 production will reach 90 million units, an increase of about 18% over the same period last year. Overall, iPhone shipments in the second half of this year are expected to reach 139 million units, and in 2022 they will reach 238.5 million units, higher than the previously expected 231 million units.
Apple will release its financial report for the third quarter of the fiscal year 2021 as of the end of June on July 27, U.S. Eastern Time (July 28, Beijing Time), and at 5:00 pm U.S. Eastern Time on July 27 (July 28, Beijing Time 5 AM) Convene an earnings conference call.
