Apple's stock hits record high on AI hype and Morgan Stanley upgrade, projecting strong sales.

From Nasdaq: 2024-07-15 16:21:33

Apple’s stock hit a record high after Morgan Stanley designated it a “top pick” and raised price target to $273. Apple Intelligence is expected to boost device sales, with 500 million iPhones projected to sell in next two years. Market experts anticipate AI-enabled smartphones to lead market recovery, with Apple and Samsung at the forefront. Apple’s performance continues to garner widespread acclaim.

Apple’s market value hit $3.62 trillion, making it the world’s most valuable company. Morgan Stanley analysts project 500 million iPhones to be sold over the next two years, lifting Apple’s stock by nearly 20% this year. The broader smartphone market is expected to recover with the rise of AI-enabled devices, positioning Apple and Samsung as market leaders.



Read more at Nasdaq: Apple Shares Hit Record High on AI Hype, Morgan Stanley Upgrade