Morgan Stanley Sees Service Opportunities For Apple

In a report published Tuesday, Morgan Stanley analyst Katy L. Huberty reiterated an Overweight rating and $690.00 price target on Apple AAPL. In the report, Morgan Stanley noted, “The developer conference keynote focused on software and tighter integration with 3rd-party apps. While no new hardware was announced, we see services revenue upside from iCloud, Health and smart home-related apps and view developer access to Touch ID as a step in the direction of mobile payments.” Apple closed on Monday at $628.65.