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Apple Upside Largely Priced In, Says Morgan Stanley -Breaking


© Reuters.

Sam Boughedda — Apple Inc (NASDAQ) shares rose 0.8% on Thursday Morgan Stanley (NYSE:) Analyst Katy Huberty stated to investors that there is upside to the stock. 

Huberty stated that she expected the December quarter results of Apple to be ahead of what was anticipated. Huberty cautioned that Apple shares have risen 19% from the October 4th low, compared to 5% for the. This suggests that the December quarter upside has been largely priced into.

But she said they’d be buying any Apple weakness following the earnings report. They see Apple as a “defensive/quality underperformer” in tough markets because of its 1.65 billion+ installed base. This includes high loyalty/retention, weak institutional positioning and strong capital returns. Apple also has the potential to outperform product cycles.

Apple shares have fallen 5% in the past year. 

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