Morgan Stanley trims AAPL target to $180 on weaker than expected quarter – Naples FL

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Investment bank Morgan Stanley has cut its Apple price target to $180 from $185 and is expecting June quarter results slightly below Wall Street expectations.

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In a note to investors seen by AppleInsider, Morgan Stanley lead analyst Katy Huberty says that foreign exchange rates and ongoing supply chain issues are likely to limit June quarter upside. That’s despite the fact that the iPhone is still seeing solid results.