What's Going On With Apple Stock Friday?
Portfolio Pulse from Anusuya Lahiri
Apple Inc's stock received a boost from Morgan Stanley's re-rating, with an Overweight rating and a price target of $215. The recent -6% stock move is seen as unwarranted, with the market potentially overreacting to the risk of China becoming more nationalistic and limiting Apple's access to its market. The analyst believes that supply constraints will limit Huawei's 5G smartphone shipments and that Apple's ecosystem in China remains strong.
September 08, 2023 | 4:32 pm
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POSITIVE IMPACT
Apple's stock received a boost from Morgan Stanley's re-rating. The recent -6% stock move is seen as unwarranted, with the market potentially overreacting to the risk of China becoming more nationalistic and limiting Apple's access to its market.
The re-rating by Morgan Stanley is a positive signal for Apple's stock. The analyst's view that the recent -6% stock move is unwarranted and that the market is potentially overreacting to the risk of China becoming more nationalistic and limiting Apple's access to its market, suggests a positive short-term impact on Apple's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100