According to data provided by Morgan Stanley, institutional ownership of AAPL stock continues to fall.
As of this writing, shares of the Cupertino, California-based tech giant have recently touched 5-year lows, accelerating a downswing in AAPL ownership that has caught many analysts and investors by surprise. Nonetheless, a number of prominent analysts aren't losing their optimistic outlook.
In a report published Wednesday, Morgan Stanley analyst Katy L. Huberty reiterated an Overweight rating and $630.00 price target on Apple.
Apple closed on Tuesday at $522 and is trading this morning just north of $518.