Morgan Stanley Raises Price Target For Apple Stock
Morgan Stanley’s Katy Huberty has displayed a new note to clients with three new price targets for Apple’s stock. According to her analysis of the market and Apple, the bull case price is now $960, the base case is now $720. She mentioned the bear case is $405.
The $720 base case was Huberty’s previous bull case. This has changed due to the constant record-breaking statistics of Apple’s stock over the past few months specifically. According to Huberty’s analysis, “Apple’s earning power is potentially far greater than investors believe”. Huberty said that the difference from her previous bull case model reflects this thought.
Huberty believes that Apple will probably seek revenue due to the increased interest in iPad adoption rates in businesses of all sizes. There are hopes of the next-generation iPhone to be LTE compatible because the new iPad has this compatibility. The other reason included the fact that Apple had some very large untapped markets such as China and Brazil, both of which would add a significant amount of sales for the tech giant. These reasons alone are set to increase revenues for the ipad maker.
However, Huberty forgot to mention was the fact that a rumored Apple HD television set is also said to be released later in the year.