Morgan Stanley Raises Apple Target Price

Morgan Stanley continues to maintain its overweight rating for Appleis stock, according to a report on Friday. The investment company expects Apple to see expanded growth in the iPod market, along with growth in the Mac market and higher sales at the iTunes Music Store (iTMS).

Looking forward, Apple may post higher than expected margins, thanks to the continued growth in both the professional and consumer products.

Morgan Stanley has raised its target price for Appleis stock from US$60 to $70.

Appleis stock is currently trading in the pre-market at $61.18, up .22 (0.36%).

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