Analysts expect the coronavirus pandemic to keep boosting Apple's Mac and iPad units, following the company's blockbuster fiscal third quarter report, where it revealed revenue was up 11% year over year.
Morgan Stanley raised its price target on Apple to $430 per share from $419.
Tim Cook, CEO of Apple, speaks during an Apple special event at the Steve Jobs Theater in Cupertino, California, March 25, 2019.Analysts expect the coronavirus pandemic to keep boosting Apple's Mac and iPad units, following the company's blockbuster"Despite COVID-19 headwinds, Apple grew revenue in every segment and geography, beating consensus revenue by 14% as ecosystem engagement rises," Morgan Stanley analysts wrote in a research note Friday.
Retailers have been hard hit by the pandemic that's shut down stores across the globe and impacted suppliers. But Apple pointed toward both work-from-home trends and strong online sales as delivering a boost to overall operations.
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