Morgan Stanley Stands Firm on AAPL Price Target as Valuation Concerns Grow
Morgan Stanley reaffirmed its 'Overweight' rating for Apple Inc. (AAPL) on October 3, 2023, maintaining a price target of $360.00.
The investment bank's confidence in Apple's performance comes as the company continues to navigate the competitive technology landscape and deliver strong financial results.
According to GuruFocus' GF Value™ metric, Apple is currently 14.3% overvalued at its current price of $324.89, with a calculated intrinsic value of $284.36.
The mixed signals from guru ownership and insider activity are worth noting, as institutional investors have been cautious in their approach to the stock.