“Apple Inc.’s experimentation with car technology could help push the company’s valuation past $1 trillion within the next 12 months from nearly $750 billion today, according to the new bull-case price target set Monday by Morgan Stanley,” Jennifer Booton reports for MarketWatch.
“The brokerage raised its 12-month stock price target on Apple to $160, from $133 previously, and established a $190 bull-case scenario, up from $160,” Booton reports. “Morgan Stanley’s previous bull case didn’t take into account the car opportunity.”
Booton reports, “Apple’s expanding ecosystem, including the Apple Watch and CarPlay, have created a ‘virtuous cycle’ that could quadruple Apple’s total addressable market by 2020, said Morgan Stanley analyst Katy Huberty…”
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