UPDATE: Morgan Stanley Reiterates Apple at Overweight on Catalysts
Morgan Stanley maintained Apple (NASDAQ: AAPL) at Overweight and reiterated a $630 price target.
Morgan Stanley commented, "AAPL shares price in negative earnings growth. We view the stock as a free option on Apple innovation with product refreshes (iPhone / iPad), new distribution (NTT Docomo, China Mobile), and expansion into new segments (iTV or iWatch) as catalysts that could change market perception and valuation."
Apple closed at $479.93 on Monday.
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