Morgan Stanley hikes Apple price target to $200 on 'Apple Car' and AR

Investment bank Morgan Stanley has raised its Apple price target to $200, driven by what is expected from the company relatively soon, as well as short-term drivers like the App Store and iPhone supply.

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In a note to investors seen by AppleInsider, lead analyst Katy Huberty said that the bank is cautious on IT hardware heading into 2022 but noted that Apple should benefit from "a light to quality," driven by new products being priced-in, as well as the iPhone and App Store

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