Morgan Stanley has set AAPL a US$200 price target. In a note seen by AppleInsider, the bank cited Apple’s expected moves into cars and AR/VR as the reasons for this price hike.
Lead analyst Katy Huberty said that the bank is cautious on IT hardware heading into 2022 but noted that Apple should benefit from « a light to quality, » driven by new products being priced-in, as well as the iPhone and App Store Huberty points out that Apple shares don’t appear to bake-in the impact of new products. She points out that Apple is developing products aimed at both the AR/VR and self-driving car markets, and the new price target reflects that. « Today, we know that Apple is working on products to address two significantly large markets – AR/VR and Autonomous Vehicles – and as we get closer to these products becoming a reality, we believe valuation would need to reflect the optionality of these future opportunities, » she wrote.
Check It Out: Morgan Stanley Sets US$200 Target Price For AAPL – Cites Apple Car, AR/VR
