- Morgan Stanley analyst Erik Woodring maintains Apple Inc (NASDAQ:AAPL) with an Overweight, raising the price target from $185 to $190.
- Woodring highlights that after several years of buildup, Apple is set to unveil its first new hardware category since 2016 – the much-anticipated “Reality Pro” AR/VR headset – at WWDC 2023, alongside other updates such as a new M2-powered MacBook Air and software upgrades to iOS, iPadOS, MacOS, and WatchOS.
- Longer-term, he anticipates the combination of technological improvements, new use cases, and lower price points can drive the AR/VR headset TAM to $100 billion by 2030 and over $500 billion by 2037, implying AR/VR could become the next major ($20 billion+) standalone compute platform for Apple.
- It’s still early days, but he thinks that this long-term growth potential and that Apple will likely be the market-leading vendor in mixed-reality headsets could make WWDC a more significant stock catalyst this year.
- Jefferies analyst Andrew Uerkwitz maintains Apple with a Buy and raises the price target from $195 to $210.
- Price Action: AAPL shares traded higher by 0.35% at $180.68 on the last check Friday.
- Photo via Wikimedia Commons
Asia Dips, Eurozone Opens Lower While Crude Trades Below $90 – Global Markets Today While US Was Sleeping
On Monday, September 25, the U.S. stock markets gained, breaking a four-day losing streak.
In the S&P 500, energy led with a 1.3% increase, followed by materials which rose by 0.8%. Consumer staples, however, declined by 0.4%.
Investors are now looking to economic data and insights from the Federal Reserve to gauge potential interest rate trends.
