Apple Stock Soars on AI Optimism, Morgan Stanley's Top Pick
TL;DR Summary
Apple shares hit a record high after Morgan Stanley named the stock a "top pick" due to the company's new AI initiative, Apple Intelligence, aimed at boosting device sales. The stock reached $236.30, giving Apple a market value of $3.62 trillion, before settling around $235. Morgan Stanley raised its price target for Apple to $273, projecting nearly 500 million iPhone sales over the next two years.
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