Here's what major analysts are saying about Apple's earnings

Apple delivered strong earnings results on Thursday, boosting expectations that the stock has much more room to run even as rising memory costs put pressure on the iPhone maker's profitability. The "Magnificent Seven" name posted $111.18 billion in revenue for the second fiscal quarter, better than the $109.66 billion forecast. The sales total included a lower-than-expected $56.99 billion from iPhone sales, compared to the $57.21 billion expected by analysts polled by LSEG. Mac and iPad revenue were both better than expected. Earnings came in at $2.01 per share, or above the Street's consensus estimate of $1.95 per share. The company also forecast that revenue in the June quarter will increase between 14% and 17% from a year earlier. Analysts had predicted 9.5% to $103 billion for the same period, LSEG data shows. Apple stock rose nearly 4% in premarket trading Friday. "Results demonstrated strong iPhone, Mac, and Services momentum, along with AAPL's ability to effectively manage cost inflation, both of which have been investor concerns," Morgan Stanley analyst Erik Woodring said Friday in a note to clients. "Last night's report was the clearing event Apple needed to see shares outperform into the September iPhone launch." Morgan Stanley has an overweight rating on Apple. It also has a $330 price target on shares, implying 22% upside from Thursday's close. …