Bernstein Remains "Outperform" Rating on Apple, Target Price $370 According to TechFlow, on November 3rd, Bernstein reiterated its "Outperform" rating on Apple, maintaining its target price of $370. The firm believes Apple's fourth-quarter results were strong, with revenue increasing 12% year-over-year to $114.5 billion, exceeding Bernstein's and market expectations by 1.6% and 0.9%, respectively. Diluted earnings per share were $2.10, exceeding Bernstein's and market expectations by 6% and 5%, respectively. iPhone revenue grew 17% year-over-year, exceeding the previous expectation of around 15%; services revenue grew 10%, or approximately 12.5% excluding the adverse effects of currency exchange rates.