Morgan Stanley analyst Katy Huberty has raised her "base case" price target for Apple stock from $515 to $720, but set "bull" and "bear" targets of $960 and $405, respectively. "We believe Apple's earnings power is potentially far greater than investors believe and our prior bull case model suggested," she writes in a new memo. Huberty leans towards the bull model, citing factors like enterprise tablet adoption, and extra demand created by a lower-priced iPad.
