Morgan Stanley analysts on Friday upped its Apple price target to $180 and reaffirmed the “Top Pick” designation as the investment firm sees several catalysts that can help AAPL stock move higher.
“If we look beyond the near-term, we see a catalyst rich event path over the next 12 months that is underappreciated by investors, including reaccelerating iPhone and Services growth, record gross margins, two new product launches, and the potential introduction of an iPhone subscription program,” analysts said in a client note.
“Combined, we believe the first 4 of these 5 catalysts have the potential to drive a re-rating in Apple shares toward our new sum-of-the-parts driven $180 price target, with the launch of a hardware subscription program key to unlocking our $230 LTV-driven bull case valuation,” they added.
MacDailyNews Take: Apple shares remain woefully undervalued.
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Apple stock has 5 under-the-radar drivers that could catapult it to a near-$4 trillion valuation, Morgan Stanley says.
Morgan Stanley said five under-the-radar catalysts could send Apple stock to its bull-case scenario of $230.
The bullish target represents 53% upside and would catapult Apple to a near-$4 trillion valuation.