Morgan Stanley raises AAPL target price to $368
What you need to know
- Morgan Stanley has raised its AAPL target price to $368 per share.
- That's a whopping $72 increase.
- Firm Nomura also raised expectations but cautioned against inflated iPhone 12 predictions.
Morgan Stanely and Nomura have both raised their AAPL target stock prices as Apple's financial fortunes continue to roll.
According to a CNBC report:
MS claims that Apple will continue to outperform competitors based on peaking smartphone replacement cycles and the introduction of 5G. They claim that the iPhone replacement cycle is more like four years, rather than two, thanks to the move to installment plans and the slowing pace of innovation in the sector.
Firm Nomura also raised its AAPL target price to a much more conservative $280 per share, however that's still a huge jump from its previous projection of $225. They believe anticipation of a 5G iPhone supercycle may be misguided, mostly because increase costs in materials for the 5G iPhone may dent potential profits. Apple, according to Nomura, has reportedly ordered between 75 and 85 million iPhones for the second half of 2020, 10% more than it did for iPhone 11.
Get more iMore in your inbox!
Our news, reviews, opinions, and easy to follow guides can turn any iPhone owner into an Apple aficionado
Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9