Apple ( AAPL ) stock has five underappreciated catalysts that could drive it higher over the next 12 months, according to investment firm Morgan Stanley. They include Apple’s first new product category launch in eight years. On Friday, Morgan Stanley analyst Erik Woodring reiterated his overweight, or buy, rating on Apple stock, calling it a "top pick." He also raised his price target to 180 from 175. In morning trades on the stock market today , Apple stock climbed 2.7% to 149.89. "We see a catalyst-rich event path over the next 12 months that is underappreciated by investors," Woodring said in a note to clients. Those catalysts include reaccelerating iPhone and services growth and improving gross profit margins. He also sees two major product launches and the possible introduction of an iPhone subscription program. Apple Stock Faces Challenges Near Term But Apple stock has some challenges to overcome in the meantime, he said. "In the near term, weaker consumer electronics spending, a challenging macro backdrop, FX (foreign exchange) headwinds, iPhone production shortages, and lingering Covid restrictions are headwinds that are likely to result in Apple’s first fiscal year of revenue and EPS (earnings per share) declines since 2019," Woodring […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
