Apple Inc. could be valued above $1 trillion within the next 12 months from nearly $750 billion today, according to the new bull-case price target set Monday by Morgan Stanley. The brokerage raised its 12-month stock price target to $160, from $133 previously, and established a $190 bull-case scenario, calling Apple's expanding ecosystem, including the upcoming Apple Watch launch, a "virtuous cycle" that could quadruple Apple's total addressable market within five years. Analyst Katy Huberty, whose price target puts her among the most bullish Apple analysts on Wall Street, also pointed to Apple's potential in the auto, health and television markets, saying Apple products and services could eventually address user needs in roughly 75% of their day, up from 33% currently. Shares of Apple traded up 0.2% to $128.71 in recent trade. They are up more than 71% over the last year. The average price target among more than 40 analysts is currently $134.32, according to FactSet.
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