Wall Street Breakfast The case for Apple as top pick for 2025
Dec 16, 2024
Morgan Stanley predicts Apple's best device upgrade cycle yet, forecasting significant growth and expansions in services by 2025. Meanwhile, the podcast highlights the challenges faced by the film 'Kraven the Hunter' and notes Bank of America's top chip stock picks. J.P. Morgan's upgrade of Okta to Overweight hints at optimism in tech performance. Additionally, there are insights on the semiconductor market, emphasizing trends driven by AI and advancements in automotive components for future investment opportunities.
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Apple Top Pick for 2025
- Morgan Stanley maintains an overweight rating on Apple, predicting it to be a top pick for 2025.
- They cite the largest device upgrade cycle ever, driven by Apple Intelligence and double-digit services growth.
Apple's Record Upgrade Cycle
- Apple is predicted to experience its largest upgrade cycle ever, driven by Apple Intelligence and new user acquisition.
- This is expected to lead to record-breaking fiscal years 2025-2026, underappreciated by the current market.
US Economy Mixed Signals
- The US composite PMI rose to its highest since March 2022, driven by service sector strength.
- Manufacturing production, however, continues to deteriorate.