Morgan Stanley has reiterated its overweight rating on Apple Inc. (AAPL), maintaining a price target of $220. The firm highlighted a stronger-than-expected consumer perception of Apple Intelligence, based on its March 2025 AlphaWise survey of 3,300 US consumers. The survey revealed record numbers of buyers intending to upgrade their iPhones, with particular interest in Apple Intelligence features and potential folding models. Meanwhile, Goldman Sachs has lowered its price target for Apple slightly to $256 from $259 but retained a Buy rating ahead of the company's Q2 results, anticipating strong fundamental performance driven by new product innovation and increased channel fill and sell-through. Separately, Bank of America Securities reiterated a Buy rating on Amazon.com Inc. (AMZN) with a price target of $225, citing valuation as a key focus.