Apple hits record high as Morgan Stanley adds stock to 'top pick' list
Updates
** Shares of Apple AAPL.O up 1.5% at $234.02 after Morgan Stanley adds stock to its "top pick" list, lifts PT to $273 from $216; new PT an 18.4% upside to last close
** Stock hit record high of $237.23, giving Apple peak market capitalization of $3.64 trillion
** Apple Intelligence clear catalyst for a multi-year upgrade cycle that could boost iPhone and iPad shipments, brokerage says, referring to the company's AI features
** New forecast calls for 235 mln and 262 mln iPhone shipments in FY25 and FY26, respectively - MS
** Loop Capital also upgrades AAPL stock, as per TheFly.com
** Separately, a Bloomberg report showed Apple's India sales jumped 33% to a record of almost $8 bln in the year through March
** AAPL snapped its seven session winning streak on Thursday; stock up nearly 20% YTD through last close
Reporting by Purvi Agarwal and Akash Sriram in Bengaluru
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