Apple stock to grow faster than the economy, investor expects

• Apple briefly touched the $3 trillion market cap for two consecutive days

• Morgan Stanley raised Apple’s price target from $164 to $200 in December and maintained the equivalent of a buy rating

Apple Inc’s market capitalization isexpected to “grow faster than the economy,” Patrick Armstrong, chief investmen expected to “grow faster than the economy,” Patrick Armstrong, chief investment officer at Plurimi Group, said, arguing that the stock’s valuation is justified.

The International Monetary Fund (IMF) expects the U.S. economy to grow by 5.2% in 2022, while the global economy is seen expanding by 4.9%.