Apple (AAPL) has received its fair share of criticism in the past when it comes to the iPhone. From slow development cycles to reduced demand, the market has punished the stock without hesitation. Yet every time the iPhone maker looks to have plateaued, it strikes back. The recent note from Morgan Stanley analyst Erik Woodring shows how bullish the firm is on AAPL stock. And it has the numbers to back its bullish thesis. The investment firm’s late 2025 AlphaWise Smartphone Survey shows upgrade rates in C ...