“Shares of Apple soared another 4% and neared $600 on Wednesday in the wake of an exceptionally bullish research note that raised the prospect of the tech giant reaching quadruple-digits soon,” Matt Egan writes for Fox Business.
“The latest leap leaves the iPad and iPhone maker up more than 40% so far this year alone and further cements its title as the world’s most valuable company at north of $550 billion,” Egan writes. “Wall Street cheered as Morgan Stanley added Apple to its best ideas list and placed a lofty 12-month price target of $720 on the stock, up 40% from its earlier target of just $515.”
Egan writes, “However, traders appeared to be really focused by a bold prediction that Apple’s stock could near $1,000 by the end of next year.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Carl H.” for the heads up.]
Morgan Stanley ups Apple price target to $720 from $515; bull case scenario: $960 per share – March 14, 2012