Different Perspectives On Apple From Jefferies And Morgan Stanley

Jefferies raised its price target on Apple Inc. AAPL from $112 to $120 Wednesday but noted that Google Inc. GOOG is coming out ahead as the company’s top competitor.

Morgan Stanley took a different perspective and focused on how institutional ownership of Apple still has room to grow, based on peers. Analyst Katy Huberty gave Apple an Overweight rating and $115 price target and assumed more instituional buying may be ahead.

The Jefferies research note focused on the popularity of cloud services and Google’s success in building an ecosystem for consumers and enterprise.

Below is a chart from analyst Sundeep Bajikar's reseach report illustrating the Consumer Cloud Ecosystem and Google’s growing dominance.  The chart is organized with the most popular services at the top.

Apple Inc. traded at $115.40 in the pre-market, down 0.06 percent.

Google Inc. traded at $534.00 in the pre-market, down 0.19 percent.