Morgan Stanley Lists Apple as Top Pick Stock Due to AppleIntelligence

TapTechNews July 15th news, according to Bloomberg's report today, Morgan Stanley has listed Apple as the top pick stock, and it is expected that the AppleIntelligence launched by this tech giant will trigger a record-breaking upsurge among users to update their iPhones, iPads or Mac and other products.

Morgan Stanley analyst Erik Woodring raised Apple's target share price to $273 (TapTechNews note: currently about 1,988 Chinese yuan), and said that AppleIntelligence is expected to drive a record number of device upgrades. Erik wrote in the report that this will be a definite catalyst that triggers a multi-year upgrade cycle.

He also predicted that Apple will ship nearly 500 million iPhones in the next two years, higher than the record-breaking cycle in 2021-2022.

Erik Woodring's rating for Apple's stock is overweight. He wrote: After Apple launched AppleIntelligence at the Worldwide Developers Conference, we are even more convinced that fiscal 2025 may be the beginning of a multi-year device update cycle.

AppleIntelligence will initially be limited to iPhone users with English language and the United States region when it is launched this autumn. However, Erik Woodring believes that factors such as the expansion of non-English functions will add more value to users in the next 12 to 24 months. This will allow Apple to resume year-on-year unit growth in fiscal 2025 and potentially have an important cycle in fiscal 2026.

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