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Apple stock is a hair’s breadth away from its all-time high, thanks to a bullish report Tuesday from Morgan Stanley. Morgan Stanley analyst Katy Huberty pounded the table for Apple (AAPL), saying investors should buy shares ahead of the company’s iPhone 6 and iWatch product cycles. The stock is attractive because of its low institutional ownership, increased cash return program, stronger and broader management team, increased acquisitions and R&D, stabilizing profit margins and higher contribution from services, she said. “Even after the recent move in the stock, the top 100 institutional owners of Apple (AAPL), shares hold a 2.3% position in their portfolios on average as compared to 4.5% at the prior peak in 2012,” Huberty said. “This is well below Apple’s S&P 500 weighting of 3.4%.” Apple CEO Tim Cook has bolstered the company’s management team in key positions to prepare for growth, she said. Cook has added well over… Scalper1 News
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