Morgan Stanley Believes Now is the Time to Invest in Apple

In a report published Thursday, Morgan Stanley analyst Katy L. Huberty reiterated an Overweight rating and $630.00 price target on Apple (NASDAQ: AAPL).

In the report, Morgan Stanley noted, “We believe now is the time to invest in AAPL in light of low institutional ownership, more resilient than expected iPhone sales, and upcoming product launches including iWatch, iPhone 6, larger screen iPad, and services. While most investors expect weak March quarter results and June guidance, we see evidence of better iPhone sales which combined with a more aggressive share buybacks could result in less downward EPS pressure than expected and bridge the gap to product cycles later this year.”

Apple closed on Wednesday at $519.01.