Apple has 5 ‘underappreciated’ catalysts that could boost the stock … – Seeking Alpha
Apple (NASDAQ:AAPL) is the world’s most valuable company with a market cap approaching $2.4T, but investment firm Morgan Stanley said on Friday the tech giant has five “underappreciated” catalysts that could boost the stock higher over the next 12 months.
Analyst Erik Woodring, who rates Apple (AAPL) shares overweight, said the company could benefit from a boost in growth both for the iphone and Services, gross margins near record levels, two new product launches and the potential for an iPhone subscription service.
“Combined, we believe the first 4 of these 5 catalysts have the potential to drive a re-rating in Apple shares toward our new sum-of-the-parts driven $180 price target, with the launch of a hardware subscription program key to unlocking our $230 LTV-driven bull case valuation,” Woodring wrote in a note to clients.
Concerning the iPhone, Woodring noted that pent-up demand should boost “above consensus” shipments in fiscal 2024, even if shipments are forecast to decline…
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source: https://news.oneseocompany.com/2023/03/03/apple-has-5-underappreciated-catalysts-that-could-boost-the-stock-seeking-alpha_2023030341435.html
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