Apple still not as expensive as rivals even with $2 trillion market cap, Morgan Stanley says

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• Even as Apple touts a $2 trillion market cap, investors can find opportunity in the stock, Morgan Stanley said Sunday.
• The bank raised its base-case price target for the shares to $520 from $431, implying a 5% gain from Friday's close over the next year.
• The firm's bull case sees Apple stock leaping as high as $681, roughly 37% higher than its last close.
• Apple should be valued more like a consumer platform or tech stock, the team of analysts said. As such, "the stock is not as expensive vs. peers" and "has further room to run," they added.
• Watch Apple trade live here.

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Apple's $2 trillion market cap has a growing number of experts questioning whether shares jumped too far, too fast.

Morgan Stanley isn't worried, and instead sees the company rallying as much as 37% over the next year on continued services growth and a major iPhone update.See the rest of the story at Business Insider

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