Shorter-term macro issues don't detract from the long-term value at Apple , Morgan Stanley analysts wrote in a Friday morning note that reiterated an overweight rating and a $175 price target. "Taking a step back, it's rare to see Apple miss and guide down in a quarter, but we believe the long-term positives from tonight's report outweigh the short-term negatives," Morgan Stanley's Erik Woodring wrote. It's that same discipline that helps Morgan Stanley analysts maintain a bullish outlook on Apple, which guided to a Mar. Apple's user spend levels are also keeping Morgan Stanley bullish, proof that "the underlying drivers of Apple's model remain robust." Investors have apparently embraced Morgan Stanley's appraisal of Apple's durability as a long-term investment.

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