Morgan Stanley Defends Apple (AAPL)

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Morgan Stanley reiterated its Buy rating and $714 price target on Apple (NASDAQ: AAPL), saying iPhone and iPad demand remains strong. The firm also said iPad mini cannibalization concerns are overdone. Apple is the stock to own in early 2013, according to the firm, and they reiterated it as a Best Idea.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $509.79 yesterday, with a 52 week range of $378.31-$705.07.

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