AAPL Gross Margin to Improve with iPhone ’5S,’ Says Morgan Stanley
Morgan Stanley‘s Katy Huberty this afternoon reiterates an Overweight rating on shares of Apple (AAPL) and a $630 price target, after sifting through the company’s 10-Q filing to determine whether its decline ingross margin is “structural” or just a passing effect. Huberty concludes the margin “volatility does not appear entirely structural,” but in part cyclical, [...]
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