Morgan Stanley said that Apple's new product launch next week will push the technology giant's stock to continue to rise.
Morgan Stanley raised Apple’s revenue and earnings forecasts for 2021 by 2%, which is 5% to 6% higher than market consensus, because it sees "Next week’s iPhone launch as a boost to Apple’s $130 target A catalyst for price progress.”
Morgan Stanley said that the release of the new iPhone will push Apple's stock to outperform the market in 2021.
Morgan Stanley analysts also said earlier that the upcoming new iPhone will have a positive effect on Apple's stock price. The data also show that the iPhone is occupying market shares in China and Europe. The data shows that the number of iPhones with more than two years of age in China has “set a record”, laying the foundation for the “potentially strong upgrade cycle” after the release of the iPhone. The "major" upgrade cycle is "the strongest in at least four years", and iPhone shipments are expected to "significantly accelerate in the 2021 fiscal year."
Apple previously announced that the time for the second press conference this fall is scheduled for October 14th, Kuala Lumpur time. It will still be online. If nothing else, the long-awaited iPhone 12 series will be released on this day.
As of press time, Apple's share price is at 115.45 US dollars, an increase of 0.32%.