Apple stock rises as Morgan Stanley names it Top Pick ahead of iPhone 16 launch
) stock edged 2% higher in premarket trading Monday after Morgan Stanley analysts upgraded it to a Top Pick and raised the price target from $216 to $273.
Based on their analysis of Apple's upgradeable iPhone base, upgrade rates, new user growth, and model mix, Apple is poised to ship nearly 500 million iPhones over the next two years—235 million in the fiscal year 2025 and 262 million in FY26. Their conviction in the upgrade cycle is supported by several unprecedented factors in Apple's history: an installed base of over 1.3 billion devices, extended replacement cycles averaging 4.8 years, and a new technology limited to just 8% of the iPhone/iPad installed base.
The analysts forecast that in FY25 and FY26, 66-69% of iPhones shipped will be new models, which is 2-6 points higher than FY24 and 3 points above the previous peak in FY22, leading to 4-5% annual iPhone ASP growth.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Morgan Stanley is out with its 'Top Stock Picks' list for EuropeMorgan Stanley is out with its 'Top Stock Picks' list for Europe
Baca lebih lajut »
Morgan Stanley says memory stocks are set for 'new highs' and names its top picksMorgan Stanley analysts say they are expecting the computer memory sector to hit new highs over the rest of 2024, despite investors 'generally' not being comfortable buying such stocks at such lofty prices.
Baca lebih lajut »
There may be a comeback trade opportunity in Ford emerging, according to top analyst JonasFord remains the Morgan Stanley analyst's top pick despite recent underperformance.
Baca lebih lajut »
Top Cats: Panthers win their 1st Stanley Cup, top Oilers 2-1 in Game 7During Lightning Safety Awareness Week, experts discuss the facts and myths of lightning strikes and tips on how to keep yourself safe.
Baca lebih lajut »
Top Cats: Panthers win their 1st Stanley Cup, top Oilers 2-1 in Game 7It's been two years since the Supreme Court overturned the constitutional right to abortion. Texas is seeing an increase in infant deaths.
Baca lebih lajut »
Top Cats: Panthers win their 1st Stanley Cup, top Oilers 2-1 in Game 7SUNRISE, Fla. (AP) — There was no collapse. The Florida Panthers are Stanley Cup champions for the first time, and they took about the hardest path possible
Baca lebih lajut »