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Morgan Stanley’s Katy Huberty thinks now is a good time to buy AAPL stock, noting that institutional ownership is at a historic low and the share price is likely to rise when they get back in the game following the launch of the iPhone 6, reports Business Insider.

The top 100 investors currently only hold two percent of AAPL stock, well below the S&P 500 weighting of 3.2 percent, and at the bottom end of the historical range of 1.6 to 4.5 percent. What this means in plain English is that those investors are likely to buy more AAPL stock in future, which would typically boost the share price.

Fortune‘s Philip Elmer-DeWitt notes wryly that the charts also show that institutional investors, often known as ‘the smart money,’ were not so smart on this occasion: they reduced their holdings in Apple shortly before the stock climbed ten percent.

As ever, make your own investment decisions …