Morgan Stanley: Apple has huge opportunities in the field of robotics technology and physical artificial intelligence.

Morgan Stanley stated that despite Apple being seen as lagging behind industry trends in artificial intelligence software, the company has huge growth opportunities in the fields of robotics and physical artificial intelligence. Analyst Eric Woodrin wrote, "As artificial intelligence and robotics change the physical world, Apple can leverage its vertical integration capabilities, a massive installed base of over 2.3 billion devices, and the yet to be fully recognized strength in robotics technology to become a leader in the field of embodied artificial intelligence." The firm's conservative estimate for Apple's robotics business suggests, "By 2040, this business will bring in $130 billion in revenue, equivalent to 30% of Apple's current revenue; at the same time, this business's contribution to Apple's current stock price will be at least 10%, possibly reaching as high as 25%." Morgan Stanley has given Apple an "overweight" rating, with a target stock price of $305.