Morgan Stanley: This Company’s share may rise by 64%‎

Morgan Stanley called for taking a long-term view of Apple’s stock, and the American bank granted the company’s share a basic target price of $175, and a target price according to the bullish scenario for the stock at $235, which constitutes an increase of about 22% and 64%, respectively.

The bank indicated in a research note that while most investors focus on short-term supply disruptions, it sees that they ignore the strength and health of the system within Apple.

The company’s services unit is also expected to resume double-digit growth year on year.

This year, investors turned away from growth stocks in search of safe bets, given the sharp increase in interest rates and other headwinds.

Even Apple’s stock, which investors have long considered a safe haven with the support of the company’s strong balance sheet and its diversified income, did not distance itself from this year’s fluctuations.

Despite this, the iPhone maker withstood fluctuations compared to its peers, as the company’s stock lost about 22% of its market value this year, compared to a decline of about 30% for the Nasdaq index over the same period.

Investors expressed concern about the company in light of the bad news surrounding Apple, which ranges from the decline in iPhone production in China to the strike of workers in Australia.