Apple rises over 3%, hitting a record high with a market capitalization exceeding $4.7 trillion

Golden Ten Data, July 15th｜Apple rose over 3%, closing at $325.68, setting a new all-time high, with a market capitalization exceeding $4.7 trillion. Morgan Stanley reiterated its “Overweight” rating on Apple and maintained its target price at $360. Morgan Stanley believes Apple's unmatched pricing power will continue to drive profit growth and support further rises in its stock price. Morgan Stanley analyst Erik Woodring wrote in a Tuesday report titled "Price Increases Drive Profit Growth" that to protect profit margins from being eroded by soaring component costs, Apple is raising product prices across the board, which will provide significant upside for its revenue. Morgan Stanley analyzed that this price increase strategy is expected to boost the company's third-quarter earnings per share (EPS) by 2% to 4% and drive annual earnings growth by about 1% in fiscal year 2027.