Comment on 3 reasons the recent sell-off in Apple creates a 'compelling entry point' ahead of the iPhone 12 launch, according to Morgan Sta

3 reasons the recent sell-off in Apple creates a 'compelling entry point' ahead of the iPhone 12 launch, according to Morgan Sta

Danny Lawson/PA Images via Getty Images Investors should take advantage of the recent sell-off in shares of Apple, as it provides a "compelling entry point" ahead of its iPhone 12 launch, Morgan Stanley said on Friday.Shares of Apple have fallen 20% from their September 2 high, outpacing the broader decline as technology stocks led the market lower throughout September.Morgan Stanley reiterated its "overweight" rating and $130 price target for Apple, representing potential upside of 20% from Thursday's close.Here are three reasons investors should buy the dip in Apple, according to Morgan Stanley.Visit Business Insider's homepage for more stories.Ahead of the much anticipated iPhone 12 launch, investors should take advantage of the recent sell-off in shares of Apple and buy the dip.That's according to Morgan Stanley's Katy Huberty, who in a note on Friday reiterated Apple's "overweight" rating and $130 price target, representing 20% upside potential from Thursday's close.Huberty said she thinks strong data points in Apple's business run counter to its recent stock decline of 20%, which outpaced the broader market as technology stocks led it lower from record highs on September 2.Therefore, shares of Apple present a "compelling entry point" ahead of Apple's next iPhone launch, Huberty said.Here are three reasons investors should buy the dip in Apple, according to Morgan Stanley:Read more: Northwestern Mutual's chief strategist told us the 6 market drivers he's watching most closely amid the volatility — and broke down where he's putting his money over the next 9-12 months1.

 

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