Apple's next product launch could generate a solid payoff for the iPhone maker over the long haul, according to Morgan Stanley.
Apple 's highly anticipated augmented and virtual reality product could generate a solid payoff for the iPhone maker over the long haul, according to Morgan Stanley. Near term "AR/VR is < 1% of revs but AR/VR has the potential to become Apple's next $20B+ compute platform," said Erik Woodring in a Friday note to clients. Given this setup, the analyst hiked his price target to $190 a share, reflecting about 5.5% upside from Thursday's close.
mountain Apple shares in 2023 The revised price target comes ahead of the company's Worldwide Developers Conference next week, where many expect the technology giant to reveal its mixed-reality headset. This would mark the company's first new major product line since the launch of the Apple Watch in 2014.
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