Morgan Stanley analyst, Katy Huberty, reiterated her Overweight rating on shares of Apple (NASDAQ: AAPL) on the belief that low expectations and strong services growth will keep the party going into Apple's launch event on 9/12.

The analyst stated "The biggest investor debates around the product launch center on the possibility of further ASP expansion and re-accelerating unit growth". She went on to preview the event expecting "the event will be headlined by the introduction of 3 new iPhone models - a high-end 5.8" LED model similar to the iPhone X (recently referred to as the iPhone Xs), a high-end 6.5" OLED "plus" size iPhone Xs, and a lower-priced 6.1" LCD iPhone (more on this below). We also expect Apple to introduce an Apple Watch Series 4 (Series 3 was introduced at last year's September event), an updated 11" bezelless iPad Pro with FaceID functionality, and an update to the Mac portfolio".

No change to the price target of $245.

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 $223.35 yesterday.