FAANG stocks displayed at the Nasdaq.
Adam Jeffery | CNBC
However, the latter cautioned that inflated iPhone 12 expectations “may make the music stop” and questioned market enthusiasm about a “5G supercycle.”
In analyst notes published early on Friday, Morgan Stanley increased its price target for Apple from $296 per share to $368 per share while Nomura lifted its projection from $225 per share to $280 per share.
Apple’s stock is up a staggering 103% over the past 12 months, and Morgan Stanley analysts projected that it will continue to outperform its…