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