Macquarie raised its price target on Apple (NASDAQ: AAPL) to $202.00 (from $197.00) while maintaining a Outperform rating.

Analyst Ben Schachter comments "Overall, we expect a relatively subdued quarter from AAPL. The focus will be on iPhone units, guidance, and Services growth, all of which we expect to show solid results. With iPhone performing in-line, valuation reasonable, and drivers such as Services and AR over the long-term we remain positive on AAPL..."