Morgan Stanley has named Apple its top stock pick for 2022, citing the Cupertino Colossus’ recurring revenue and expected secular growth.
While the U.S. investment bank is cautious overall on technology hardware stocks, it sees upside potential in Apple…
“Hardware stocks should underperform in ’22 as multiples derate, margins compress, and earnings-per-share revisions peak, wrote Morgan Stanley in a note to clients. “We prefer stocks with more recurring revenue and secular growth, with Apple our favorite large cap (and overall top pick).”
The call comes days after Morgan Stanley raised its price target on Apple to $200 per share…
MacDailyNews Take: From Morgan Stanley’s lips to Mr. Market’s ears.
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Makers of the Apple Watch. Nice news for those long on Apple. It’s Christmas bonus time!
I wonder how much AAPL Mr. Stanley owns? Prob nothing… just a good word confidence b/c of the charts.