Apple opened Friday at $321, slipping after a 1.3% drop in the prior session as tech names continue to absorb pressure from rising AI capital expenditures.
The sector’s weakness was underscored by Alphabet: despite reporting strong Q2 revenue, Google tumbled nearly 7% after the company said it would raise AI capex targets to $205 billion in 2026 from $180 billion. The announcement prompted a broader sell-off in tech, showing how expectations for heavy AI spending can sap investor appetite even when earnings are solid.
Against that backdrop, Morgan Stanley has doubled down on Apple. The bank reaffirmed a Buy on AAPL and nudged its price target up to $364 from $360. Eerik Woodring, Morgan Stanley’s Managing Director and Equity Research analyst, made the call — a $4 lift that implies about $43 of upside from today’s $321 open. That equates to roughly a 13% potential return; a $1,000 stake at $321 could be worth about $1,130 if the target is reached.
Why it matters for crypto traders: tech giants and “Magnificent Seven” names are leading the AI investment wave, and swings in their stocks can signal shifts in risk appetite across markets — including crypto. Apple’s reiterated Buy and modest price-target bump make it a stock to watch as investors price in AI-driven capex and assess broader market risk.
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