Morgan Stanley analyst Lee Simpson notes that the Apple (AAPL) iPhone 16 release on Monday suggested the utilization of an Arm-based A-series processor, the A18, in device. Arm (ARM) remains a favored play on the emerging Edge AI opportunity, adds the firm, which expects mobile to drive initial upside, followed by infrastructure and autos. The firm keeps an Overweight rating and $175 price target on Arm, which Morgan Stanley named as “joint Top Pick” in the space along with ASM International (ASMIY) on September 5.
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