Why These Apple Analysts Have Reduced Their Price Targets Ahead Of Results

Apple Inc. AAPL is expected to report quarterly earnings on October 27, 2022. Analysts expect the company reporting earnings at $1.27 per share on revenue of $88.9 billion.

However, several analysts lowered price targets on Apple recently.

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• On Monday, Erik Woodring at Morgan Stanley lowered price target on Apple from $180 to $177, but maintained an Overweight rating on the stock. Erik Woodring has an accuracy rate of 33%.
• Last week, Credit Suisse analyst Shannon Cross slashed price target on the iPhone maker from $201 to $190. However, Cross reiterated an Outperform rating on the stock. Shannon Cross has an accuracy rate of 19%.
• Barclays analyst Tim Long cut price target on Apple from $169 to $155. However, Long maintained an Equal-Weight rating on the stock. Tim Long has an accuracy rate of 62%.

Apple shares gained 1.2% to trade at $144.06 on Tuesday.