Morgan Stanley analyst Erik Woodring reiterated an Overweight rating and $360.00 price target on Apple (NASDAQ: AAPL).

The analyst commented: "Analysis of historical elasticity suggests rev upside for iPad/Mac given recent price hikes, while our BOM analysis implies price hikes are likely protecting margins. As such, we expect $200 iPhone price hikes in Sept. All else equal, this could drive 2-4% upside to F3Q EPS / 1% upside to FY27 EPS. "

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $317.31 yesterday.