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.

Analyst Comments

Selling in Apple (AAPL) Shares WAY Overdone, Buy Ahead of China Mobile (CHL) Deal - BofADecember 18, 2012 7:58 AM Mizuho Securities Cuts PT on Apple (AAP) to $600December 17, 2012 10:54 AM BMO Capital Takes a Hatchet to Apple (AAPL) after Asia VisitDecember 17, 2012 9:20 AM China iPhone Sales Get Mixed Analyst Reception; Apple (AAPL) is Back Above $500December 17, 2012 8:58 AM Canaccord Genuity Cuts Est., PT on Apple (AAPL) on Softer iPad Sales and Mix, Lower iPhone SalesDecember 17, 2012 8:48 AM Pacific Crest Cuts Apple (AAPL) Price Target to $565December 17, 2012 8:36 AM Apple's (AAPL) China Number a 'Big Print' Topeka's Brian White SaysDecember 17, 2012 7:47 AM Apple's (AAPL) China iPhone 5 Data Should 'Quell Investor Concerns' - Sterne AgeeDecember 17, 2012 7:24 AM Citi Downgrades Apple (AAPL) to Neutral; Recent iPhone Order Cut Brings Demand into QuestionDecember 17, 2012 6:37 AM