In its latest report, Bernstein stated that current iPhone growth is still supported by genuine end-user demand, the 17 series continues to capture market share, and while rising memory prices are putting pressure on the entire mobile phone industry, Apple may demonstrate greater resilience than other manufacturers due to its higher profitability.
Bernstein maintains its "Outperform" rating on Apple with a target price of $370 ("Outperform" means Bernstein expects the stock to outperform the corresponding market index by more than 15 percentage points over the next 12 months; it does not guarantee that the stock price will rise).
