Apple Gets Bullish Outlook From Analyst: 'Near-Term Risks' Lowered, Bull Case Re-Ignited
Portfolio Pulse from Chris Katje
Morgan Stanley analyst Erik Woodring upgraded Apple Inc's (NASDAQ:AAPL) price target from $210 to $220, maintaining an Overweight rating. The upgrade follows Apple's Q4 financial results and the iPhone 15 release. Woodring cites mitigated near-term risks, recovery in fundamentals, and potential in AI and services as reasons for the bullish outlook. Despite challenges, such as iPhone sales in China and regulatory risks, the long-term upside is seen in user monetization and new product launches like Vision Pro.
December 08, 2023 | 5:06 pm
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Apple Inc's price target has been raised from $210 to $220 by Morgan Stanley analyst Erik Woodring, who maintains an Overweight rating. The upgrade is based on mitigated near-term risks, a recovery in fundamentals, and excitement around AI and services.
The price target upgrade by a prominent analyst from a major financial institution like Morgan Stanley is a strong positive signal to the market, likely leading to increased investor confidence and potential short-term stock price appreciation.
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