Apple Stock Soars as Morgan Stanley Highlights AI Leadership

Apple's shares hit a record high after Morgan Stanley named the stock a "top pick" due to the company's AI initiatives, particularly Apple Intelligence, which is expected to drive device sales. The stock rose 2.5% to $236.30, giving Apple a market value of $3.62 trillion. Morgan Stanley raised its price target for Apple shares to $273, predicting significant iPhone sales growth over the next two years.