3 Green Flags for Apple's Future
Apple (NASDAQ: AAPL) sprung to life on Tuesday, Dec. 7, after Morgan Stanley analyst Katy Huberty painted a $200 price target on the stock that sent shares of the tech titan to an all-time high closing price of $171.18.
Huberty increased her Apple price target from the earlier level of $164, citing an increase in iPhone shipments during the holiday period, as well as the emergence of other catalysts such as augmented reality/virtual reality (AR/VR) and autonomous vehicles. Even better, Morgan Stanley wasn't the only firm painting a bright picture about Apple's prospects.
KeyBanc Capital markets initiated its coverage on Apple stock with an overweight rating and $191 price target, pointing out that the shift to 5G devices will continue to drive iPhone sales, while the services business is also on track to grow at a robust pace. The reasoning of these Wall Street firms behind their bullish take on Apple points toward three key reasons that are likely to drive the company's growth in the long run. Let's take a closer look at them.
Source Fool.com
