Natalie Parkinson
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Apple target raised to $160 on auto, watch potential

Apple Inc. could be valued above $1 trillion within the next 12 months from nearly $750 billion today, according to the new bull-case price target set Monday by Morgan Stanley. The brokerage raised its 12-month stock price target to $160, from $133 previously, and established a $190 bull-case scenario, calling Apple's expanding ecosystem, including the upcoming Apple Watch launch, a "virtuous cycle" that could quadruple Apple's total addressable market within five years.