Apple shares rise as Morgan Stanley raises price target to $200
Summary
In a note to investors on Tuesday, Morgan Stanleys Katy Huberty raised Apples price target from $164 to $200 and maintained the equivalent of a buy rating, arguing that new products from Apple, like an augmented reality headset or self-driving car, arent yet baked into the share price. The note argues that Apples stock price has increased nearly 500% over the last five years, driven largely by new products and services, and not from iPhone revenue, which has grown 40% over the same period. She said new products like an AR headset, which could contribute as much to revenue as the iPad did in its first four years on the market, may present similar growth over the next five years, equating to about a $20 per share increase in Apples share price today, on top of Morgan Stanleys existing growth projections. Meanwhile, an unconfirmed report from the Taiwanese trade publication DigiTimes on Monday said Apple plans to increase iPhone production by 30% in the first half of 2022. That counters a report last week from Bloomberg that said Apple warned iPhone demand was weakening heading into the holiday season this year.
Funding
Classifications
AskAI Classifications
LabelsLinked Companies
