Apple Intelligence is coming this fall
Apple’s stock has risen sharply to take it ahead of Microsoft again, following investment analysts predictions of an iPhone upgrade super cycle because of Apple Intelligence.
Even in pre-market trading, Apple was up 56 cents to $234.96, and when the market opened, it was on $235.20 per share. That puts Apple’s market cap at $3.6 trillion, where Microsoft opened down at $3.4 trillion, cementing Apple’s lead, which it took when the market closed Monday.
Apple’s rising share price follows the latest reports from analysts including Morgan Stanley. The firm has generally been bullish on Apple while other analysts have shied away from it, but in its most recent reports, it named the company as its top pick for investors.
After months of small trims, Morgan Stanley has now significantly raised its target price. It’s gone from $216 to $273, again specifically because of Apple Intelligence.
Back in June 2024, JP Morgan also raised its target price for the same reasons. In that case it was only a $20 raise to $245, though.
Wedbush has not raised its Apple target price, even after concluding that Apple Intelligence makes the company a good investment. However, its target price was already $275.
