Apple Hits Record High Again After Being Named Top Pick at Morgan Stanley
- Tech giant beats Nasdaq 100 since Apple Intelligence reveal
- Loop Capital upgrades stock to buy, gives Street high PT
Apple’s WWDC event in June.
Source: AppleThis article is for subscribers only.
Apple Inc. surged to another record high on Monday after the tech giant was named a top pick at Morgan Stanley, with the broker seeing the launch of the company’s artificial intelligence platform triggering a record rush among users to upgrade their smartphones, tablets and computers.
Analyst Erik Woodring boosted his price target on the tech giant’s shares to $273, the third-highest among analysts tracked by Bloomberg, saying Apple Intelligence has potential to drive a record number of device upgrades. The feature is a “clear catalyst” for a multi-year upgrade cycle, he wrote in a note Monday.