Morgan Stanley Raises Price Target for Apple Stock to $220, Citing India as Major Growth Driver
July 18, 2023
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Morgan Stanley ($NYSE:MS), one of the world’s largest investment banks, has raised its price target for Apple stock to $220, citing India as a major growth driver for the company. This increase reflects the bank’s optimism for Apple’s growth prospects in India, with its expanding market share in the country’s tech sector. Morgan Stanley is a leading global financial services firm, headquartered in New York City.
It provides investment banking, securities, investment management and wealth management services. Morgan Stanley is widely recognized for its market insight and expertise, and has been consistently ranked as one of the leading providers of financial services in the world.
Share Price
On Monday, Morgan Stanley stock opened at $85.7 and closed at $86.4, up by 0.7% from the previous closing price of $85.8. Morgan Stanley expects Apple to benefit from the strong demand for its products in India, which has seen a sharp rise in recent years. While the price target set by Morgan Stanley is higher than its current market cap, analysts believe that Apple could potentially reach this price target given the strong performance of its products in India. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Morgan Stanley. More…
| Total Revenues | Net Income | Net Margin |
| 49.93k | 9.83k | 21.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Morgan Stanley. More…
| Operations | Investing | Financing |
| -6.4k | -11.63k | 22.71k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Morgan Stanley. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.18M | 1.08M | 59.96 |
Key Ratios Snapshot
Some of the financial key ratios for Morgan Stanley are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.5% | – | – |
| FCF Margin | ROE | ROA |
| -19.0% | 8.3% | 0.7% |
Analysis
GoodWhale recently conducted an analysis of MORGAN STANLEY‘s wellbeing. Our Star Chart revealed that MORGAN STANLEY is strong in dividend, medium in growth and weak in asset, profitability. Based on this, we have classified MORGAN STANLEY as a ‘rhino’, a type of company we conclude that has achieved moderate revenue or earnings growth. We believe that investors interested in MORGAN STANLEY would be those looking for companies with a moderate growth rate. They should also take into consideration the fact that MORGAN STANLEY has a low health score of 3/10 considering its cashflows and debt, making it less likely to safely ride out any crisis without the risk of bankruptcy. More…
Peers
Morgan Stanley is an American multinational investment bank and financial services company headquartered in New York City. The company’s name is derived from its original Wall Street address, which was 65 Broadway until the building was destroyed in the September 11 attacks. Goldman Sachs Group Inc, JPMorgan Chase & Co, Bank of America Corp are its competitors.
– Goldman Sachs Group Inc ($NYSE:GS)
Goldman Sachs Group Inc. is an American multinational investment bank and financial services company headquartered in New York City. It offers services in investment banking, asset management, and securities services. As of 2020, it had the fifth-highest market capitalization of any company in the United States at $81.6 billion. Goldman Sachs has a return on equity of 9.0% as of 2022. The company has been involved in several controversies in recent years, including the 1MDB scandal.
– JPMorgan Chase & Co ($NYSE:JPM)
JPMorgan Chase & Co is an investment bank and financial services company headquartered in New York City. The company has a market capitalization of $373.1 billion as of 2022. JPMorgan Chase & Co offers a variety of services including investment banking, asset management, treasury and securities services, and commercial banking. The company has a diversified client base including corporations, governments, and individuals.
– Bank of America Corp ($NYSE:BAC)
Bank of America Corporation (abbreviated as BofA) is an American multinational banking and financial services holding company headquartered in Charlotte, North Carolina with central hubs in New York City, London, Hong Kong, Minneapolis, and Toronto. It is the second largest bank holding company in the United States by assets. As of 2020, Bank of America was ranked 26th on the Fortune 500 rankings of the largest United States corporations by total revenue. The company serves clients in more than 150 countries. It is a member of the World Bank Group’s International Finance Corporation (IFC), the United Nations’ Global Compact, and Dow Jones Sustainability Index (DJSI) World and Europe.
Bank of America’s market cap is $287.93B as of 2022.
Summary
Morgan Stanley recently increased its price target for Apple stock from $190 to $220, citing India as a major growth driver. The investment bank believes Apple’s strong presence in India could result in a significantly higher revenue and profit for the company in the coming years. They also highlighted Apple’s strong product portfolio, consumer loyalty, and expanding retail network as reasons why Apple’s stock is set to appreciate in the near future. Morgan Stanley also noted that Apple’s success is likely to benefit other tech companies in the sector, such as suppliers and other device makers.
