Morgan Stanley raises price target for Apple stock to $220‎

Morgan Stanley analysts raised the target price for Apple shares by $30 to $220, as India could be a major driver of growth for the company’s revenue and customer base over the next five years.

According to “CNBC,” the Morgan Stanley note reflected a new target increase in share price from $190 to $220, driven by the announcement of expansions in India, with a possible increase up to $270.

The bank affirmed its selection of the company as the best potential investment

Morgan Stanley analysts expect India to account for 15% of Apple’s revenue growth, 20% of customer base growth over the next five years, as well as a 7-fold growth over the next ten years to reach $40 billion and 170 million users. ..

India accounted for only 2% of Apple’s revenue over the past five years, which represents only $ 6 billion today, which is much less than China with a similar population density to India.