Morgan Stanley Upgrades Apple Stock Following Strong Product Launch
Morgan Stanley has increased its confidence in Apple Inc., maintaining an 'Overweight' rating and setting a $360 price target following the company's recent product event. The firm highlighted that Apple’s latest offerings, including the foldable iPhone Duo, upgraded iPhone 18 Pro models, and advancements in AI with Siri, demonstrate stronger innovation than expected under new CEO John Ternus. Apple shares have gained momentum since September 9, rising over 5% across two trading sessions as investors reacted positively to the product lineup. The stock closed at $332.27 on September 11 and is up nearly 44% year-to-date. Morgan Stanley’s analysts believe Apple's innovation could drive above-trend growth into fiscal year 2027, potentially marking a new phase for AAPL. The firm emphasized that the product event showcased more than routine upgrades, with AI integration playing an increasingly important role in Apple's offerings. While the stock is currently trading at a premium valuation of 36 times forward earnings compared to sector averages and historical norms, its recent performance suggests growing investor optimism.
Topics: Apple Morgan Stanley product innovation stock upgrade