FTSE 100 and European markets fall, US market rises as retail sales push higher

From Pedro Goncalves of Yahoo Finance UK:

Apple (AAPL) shares rose to a record high during Monday's trading session and were the most discussed ticker symbol in pre-market trading after Morgan Stanley named the stock a “top pick” due to the company's push for artificial intelligence (AI) to boost device sales.

The iPhone maker unveiled Apple Intelligence last month to encourage customers to upgrade their devices to take advantage of the new technology. The move came as Apple appeared to be lagging behind Alphabet's (GOOG) Google and Microsoft (MSFT)-backed OpenAI in the AI ​​race.

“Apple Intelligence is a clear catalyst for increasing iPhone and iPad sales,” said Morgan Stanley analysts.

They added that Apple could sell nearly 500 million iPhones over the next two years. The investment bank had previously expected Apple to sell between 230 and 235 million iPhones annually over the next two years and raised its price target from $216 to $273 based on the new forecasts.

The stock has an average rating of “Buy” with a median price target of $217 and has outperformed the S&P 500 index this year, according to data from the London Stock Exchange.

Apple shares are up more than 26% year-to-date and over 8% in the last month.