Morgan Stanley Sees China Mobile Partnership as a Boost for Apple

In a report published Monday, Morgan Stanley analyst Katy L. Huberty reiterated an Overweight rating and $630.00 price target on

. In the report, Morgan Stanley noted, “Our July AlphaWise survey of consumers in China suggests a partnership with China Mobile adds 12M iPhone shipments or $2.40 in EPS for Apple in CY14. Our new scenario analysis suggests there is a wide range of potential outcomes (5-23M), depending on how we discount the survey feedback.” Apple closed on Friday at $554.43.