- Apple stock opened Friday at $321 after a 1.30% decline, as tech stocks face pressure over rising AI capital expenditure.
- Morgan Stanley reiterated its buy rating on Apple and raised its price target to $364, implying roughly 13% upside from current levels.
- Analyst Erik Woodring increased the target by $4 from $360, signaling sustained confidence in Apple’s growth trajectory amid the AI-driven sell-off.
Apple stock (NASDAQ: AAPL) opened Friday at $321 after falling 1.30% the previous session, as tech stocks remain under scrutiny over rising AI infrastructure spending. Alphabet tumbled nearly 7% despite strong Q2 revenues after announcing it would boost AI capex from $180 billion to $205 billion in 2026, triggering a broader sell-off.
Consequently, Morgan Stanley reiterated its buy rating on Apple and briefly hiked its price target. The bank’s managing director and equity research analyst, Erik Woodring, set a new target of $364, up from $360. That represents a potential $43 gain per share for traders entering at Friday’s open.
The price target implies a return on investment of roughly 13%, meaning a $1,000 position could grow to $1,130. With the Magnificent Seven firms leading AI advancements, Apple remains a must-watch asset for investors seeking double-digit gains.
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