After being shunned by investors for what seemed like forever, Apple (NASDAQ:AAPL), the investing tech giant, is in vogue once again.
Taking into account its recent 7-for-1 stock split, Apple stock has been on a tear during he past few months as bullishness on Apple's upcoming product cycle has investors expecting more growth from the tech giant. In fact, Apple's blowout earnings report served as the spark that ignited Apple's recent rally. And, if a recent sign has anything to say about it, Apple could have another huge earnings report waiting in the wing.
Apple will set another iPhone record
In a recent note to clients, Morgan Stanley's equity research department unveiled the results of its proprietary survey for iPhone shipments for Apple's currently underway third quarter, and they were positive, to say the least.
According to Morgan Stanley, Apple is on the way to ship an astounding 39 million iPhones in its current quarter, which would blow the previous Q3 record out of the water. Better yet, Morgan Stanley's iPhone sales model has actually proven to be more accurate than the rest of Wall Street in estimating Apple's actual iPhone output during the past several quarters, although it's still not perfect. Either way, this news should serve as yet another reason why investors should be increasingly bullish on Apple, as tech and telecom specialist Andrew Tonner explains in the video below.