shares could rally 20%, noting that investors should look beyond near-term headwinds for the tech giant.
"If we look beyond the near-term, we see a catalyst-rich event path over the next 12 months that is underappreciated by investors, including reaccelerating iPhone and Services growth, record gross margins, two new product launches, and the potential introduction of an iPhone subscription program," Morgan Stanley said.
"Right now you've got a situation where the stock markets and the credit markets seem to think that they have more time that they can buy before the boom really gets lowered on the economy," Rosenberg said on CNBC's ""There's no doubt the economy is not strong, but it has to weaken precipitously. Unemployment has to start contracting... I think that's where you're going to find the risk on trade," he added.
The employment picture started off 2023 on a stunningly strong note, with nonfarm payrolls posting their biggest gain since July 2022. The Federal Reserve could reverse its tightening policy when the jobs market shows weakness.Check out the companies making headlines after the bell.– Shares of the cloud security company tumbled more than 11% in after-hours trading.
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