Goldman Sachs has revised its price target for Apple (AAPL) to $360, a reduction of $10, following the company's earnings call. This adjustment comes after an earlier increase to $370 just prior to the report. Despite the trim, the new target remains higher than the previous $340 and analysts at Goldman Sachs believe Apple is strategically positioned for future growth.

Analysts cited Apple's own guidance about not being able to meet demand in the upcoming quarter as a primary reason for the lowered forecast. CEO Tim Cook reframed this as a result of "incredibly strong demand," but acknowledged it could lead to missed revenue opportunities due to inventory limitations. Goldman Sachs also anticipates a slowdown in Apple's Services growth, particularly from the App Store.

However, Goldman Sachs maintains a "Buy" rating on Apple, expressing optimism about the company's long-term prospects. They believe initiatives like Apple Upgrade, the launch of Siri AI, and potential new device releases will bolster Services revenue. The firm also highlighted the strength of Apple's integrated ecosystem, suggesting the market may be overlooking its overall resilience despite challenges like a weakening global economy and increasing competition.