Rosenblatt Cuts Apple’s Price Target By

© Reuters.

By Sam Boughedda — Apple’s (NASDAQ:) price target was lowered from $184 to $168 on Monday by Rosenblatt analyst Barton Crockett.

The analyst, who kept a neutral rating on Apple shares, was quoted by The Fly as saying that while the company’s March report, released last week, was “constructive”, it was also tempered by expectations of more significant supply chain disruptions in the June quarter.

Crockett added that he doesn’t know when China will “stop being a covid risk for Apple.”

Analyst Katy Huberty of Morgan Stanley (NYSE:) reiterated an above average rating and $195 price target on Apple.

Huberty said the company’s 10Q analysis indicated a spike in supplier inventory showing supply chain disruption and SE3 builds. However, an unwinding of stocks from the balance sheet highlights the expected improvements.

Apple shares are up just 0.1% on Monday.

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