Brewing iPhone ‘Super Cycle’ Sends Apple Price Targets Up

Analysts are raising their price targets on Apple Inc., with the most bullish expecting a 32 percent gain in the next 12 months, as the company prepares to introduce a new line of iPhones. Morgan Stanley was the latest to boost its estimate -- to $161 a year from now -- telling clients in a research note Thursday that supply-chain and demand data show a clear path to a “super cycle” for the next iPhone models, which isn’t reflected in consensus numbers.

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