Morgan Stanley recently raised the price target of Apple stocks to $180 based on several factors.
The investment bank’s analysis of Apple stock is to ‘buy now’, along with five ‘catalysts’ of its raising the target price from $175 to $180. Based on expectations and institution and pension fund proportions, the group mentioned AR headset, record gross margins, a hardware subscription service, demand for the iPhone 15, and services sparking growth as the catalysts, and concluded that Apple will enjoy a rising stock price in the coming months.
The note to investors is mostly positive, with Morgan Stanley saying that there are five tailwinds that will be approaching in the next six to nine months that made them choose Apple as their 2023 top pick. However, the note warns that Apple is ‘still facing challenges’ in the foreign exchange market and a macro backdrop, as well as COVID restrictions and iPhone shortages.
