Apple's upcoming earnings could be 'clearing event' for stock, Morgan Stanley says

Morgan Stanley says Apple’s (AAPL.OQ) upcoming Q2 results on April 30 could act as a “clearing event,” resetting investor expectations and supporting a move toward a $300 share price by September. The firm expects revenue upside from iPhone, Mac and Services and strong free cash flow that could offset margin pressure from rising memory costs, leading to better-than-feared EPS guidance and potential multiple expansion. Morgan Stanley also flags potential product excitement (e.g., a foldable iPhone) as a catalyst. The view is constructive for near-term upside in Apple shares and could drive renewed risk appetite among investors if results meet or exceed the bank’s expectations.