Tech giant continues to see big gains
) shares rose 2.5% to a record high on Monday after Morgan Stanley raised its price target on the iPhone maker’s shares and designated the stock as a “top pick,” citing the company’s AI efforts as a boost to device sales.
“Apple Intelligence is a clear catalyst to boost iPhone and iPad shipments,” Morgan Stanley analysts said. The stock has an average rating of “buy” with a median price target of $217, and has outperformed the S&P 500 index this year, according to LSEG data.
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