Apple at all-time high after Morgan Stanley calls stock 'top pick' for AI efforts

Quick Summary:

Apple's shares rose 2.5 per cent to a record high on Monday (Jul 15) after Morgan Stanley raised its price target on the iPhone maker's shares and designated the stock as a "top pick," citing the company's AI efforts as a boost to device sales.

The stock has an average rating of "buy" with a median price target of US$217, and has outperformed the S&P 500 index this year, according to LSEG data.

"Apple Intelligence is a clear catalyst to boost iPhone and iPad shipments," Morgan Stanley analysts said.

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Category: EconomyBusiness

Markets: Singapore

Topics: Morgan Stanley Customers Shares Apple Company Target Cent Price Year Million

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 19:36:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 387 words

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Sentences: 11 lines

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News ID: 21629298

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