Morgan Stanley thinks that Apple will announce better than expected revenue in its next earnings call. That’s according to a note by Morgan Stanley analyst Katy Huberty, seen by AppleInsider.
That assessment is based on several factors, including a normalizing of factory activity in China where production of the company’s iPhones appear to be outpacing estimates. Huberty is now forecasting 41 million units produced during the current June quarter, roughly 25% higher than her original 33 million unit estimate. Combined with a strong balance sheet and stabilizing expectations of a 5G iPhone later in the year, Huberty named Apple her top pick amongst the IT Hardware companies Morgan Stanley tracks as part of the group.