Bernstein maintains an "Outperform" rating on Apple with a $370 price target.

Bernstein reaffirmed its "Outperform" rating on Apple and maintained its $370 price target on November 3, citing a strong fiscal fourth quarter. Apple's revenue rose 12% year-over-year to $114.5 billion, beating Bernstein's and consensus estimates by 1.6% and 0.9%, respectively, while diluted EPS of $2.10 topped both by 6% and 5%. iPhone revenue grew 17% year-over-year, ahead of the roughly 15% expected, and services revenue climbed 10%, or about 12.5% excluding unfavorable foreign exchange effects. The results underscore continued strength in Apple's core hardware and high-margin services businesses, supporting Bernstein's bullish stance. Investors should watch upcoming guidance and whether iPhone and services momentum can be sustained into the next quarter.