--- title: "Morgan Stanley gives Apple an \"Overweight\" rating: iPhone demand remains \"strong,\" upgrade cycle may be underestimated" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/280169921.md" description: "Morgan Stanley gives Apple Inc. an \"Overweight\" rating with a target price of $315, due to the continued strong demand for its iPhones and a record-high user upgrade rate. Surveys show that the global iPhone overall upgrade rate has reached 37%, with the upgrade rate in the Chinese market increasing by 9 percentage points. Analysts expect Apple to be the only major smartphone designer to gain market share this year and predict that iPhone revenue for fiscal year 2026 will be 3% higher than market expectations" datetime: "2026-03-23T13:20:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280169921.md) - [en](https://longbridge.com/en/news/280169921.md) - [zh-HK](https://longbridge.com/zh-HK/news/280169921.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/280169921.md) | [English](https://longbridge.com/en/news/280169921.md) # Morgan Stanley gives Apple an "Overweight" rating: iPhone demand remains "strong," upgrade cycle may be underestimated According to the Zhitong Finance APP, a survey released by Morgan Stanley shows that Apple Inc. (AAPL.US) has "continued strong" iPhone sales performance, with user upgrade rates reaching a record high. Analyst Eric Woodring has given Apple an "Overweight" rating with a target price of $315. He stated that based on the survey results, Apple is expected to be the only major smartphone designer to gain market share this year. In a report to clients, Woodring wrote: "In our AlphaWise smartphone survey conducted at the end of 2025, Apple's performance was outstanding. Notably, the smartphone upgrade rate in China increased by 9 percentage points compared to the same period last year; the global iPhone overall upgrade rate reached the highest level in this survey's history; the proportion of users switching to the Apple ecosystem reached a nearly five-year peak; the average expected storage capacity showed strong growth, with a year-on-year increase of 18%; and user interest in a foldable iPhone is quite high, accounting for 27% of the sampled installation user group." Additionally, in the AlphaWise global smartphone survey released at the end of 2025, the overall iPhone upgrade rate reached 37%, an increase of 2 percentage points compared to the same period last year, with China's upgrade rate hitting a historical high. The survey also pointed out that consumer awareness and willingness to pay for Apple Intelligence have declined. Woodring added: "Overall, these results support our forecast for iPhone revenue in fiscal year 2026, which is 3% higher than market expectations (market expectations growth of 3%, our forecast growth of 6%), and indicate strong growth potential for the average selling price (ASP) of foldable iPhones in fiscal year 2027, above market trends. We predict that iPhone revenue in fiscal year 2027 will be 4% higher than general market expectations, meaning that iPhone will experience the strongest consecutive two-year growth in over a decade." As of the time of publication, Apple was up 2.23% in pre-market trading, at $253.54 ### 相關股票 - [Apple (AAPL.US)](https://longbridge.com/zh-HK/quote/AAPL.US.md) - [T-Rex 2X Long Apple Daily Target ETF (AAPX.US)](https://longbridge.com/zh-HK/quote/AAPX.US.md) - [GraniteShares 2x Long AAPL Daily ETF (AAPB.US)](https://longbridge.com/zh-HK/quote/AAPB.US.md) - [Direxion Daily AAPL Bull 2X Shares (AAPU.US)](https://longbridge.com/zh-HK/quote/AAPU.US.md) - [Direxion Daily AAPL Bear 1x Shares (AAPD.US)](https://longbridge.com/zh-HK/quote/AAPD.US.md) - [Kurv Yield Premium Strategy Apple Aapl ETF (AAPY.US)](https://longbridge.com/zh-HK/quote/AAPY.US.md) - [YieldMax AAPL Option Income Strategy ETF (APLY.US)](https://longbridge.com/zh-HK/quote/APLY.US.md) ## 相關資訊與研究 - [Apple May Be Entering Strongest Cycle In Years](https://longbridge.com/zh-HK/news/280197174.md) - [Apple Stock (AAPL): Morgan Stanley's Survey Notes iPhone Share Gains, Says 'Foldables a Bigger Driver Than Apple Intelligence'](https://longbridge.com/zh-HK/news/280195341.md) - [High-Probability Apple Iron Condor with 22% Return Potential](https://longbridge.com/zh-HK/news/280147535.md) - [Apple (AAPL) CEO Tim Cook Visits China as iPhone Sales Surge in the Asian Nation](https://longbridge.com/zh-HK/news/279988539.md) - [Apple’s On-Device AI Delay: A Modest Short-Term Setback with Enduring Strategic Foundations](https://longbridge.com/zh-HK/news/279918809.md)