$Apple(AAPL)$is apparently developing two new projects that have markets talking: autonomous vehicles and virtual reality (VR). These are a big part of Morgan Stanley's renewed confidence in the company. Reasonably so.

Morgan Stanley analysts spoke to more than 40 venture capitalists, who emphasized the impact Apple has on product adoption. Areas like VR are still functionally in their infancy. A premium, vertically integrated brand like Apple vouching for its legitimacy could bolster overall interest dramatically.

There has also been a change of fortune as it pertains to the iPhone 13. While it largely underperformed early in the year, sales can be expected to rebound amid news of lessening supply constraints. J.P. Morgan also cited the launch of a new 5G iPhone SE, which some predict will launch early next year.