Monness’ Brian White thinks there were enough positive developments for Apple’s legion of fans to be saved.
The analyst said that the announcements highlighted the unique value proposition for inhabitants of Planet Apple, benefiting from a seamless, differentiated experience created across a connectedecosystem of hardware, software, and services.
What was there to offer?
There were updates for the Lock Screen, Apple Wallet, Messages, Maps, and a new iCloud Shared Photo Library in Apple’s latest operating system for the iPhone. Users will be able to change a message just sent after a major update. New additions include the ability to mark a message as unread, and to recover a message just recently deleted. Apple Pay Later allows customers to split Apple Pay purchases into four equal payments with zero-interest rates.
There were some significant developments for the Mac. An updated 13- inch MacBook Pro and a new MacBook Air were powered by the new MacOS, which boasted the ability to perform up to 15.8 trillion operations per second. The latter received its biggest makeover in over a decade, with a major redesign, new colors, a HD camera, and MagSafe charging making a comeback. Next month, the new Macs will hit the shelves. The new operating systems for the iPad and the Apple Watch were unveiled.
What does it mean for investors? White stuck to his Buy rating on Apple shares and set a price target of $199. Click here to watch White’s record.
The analyst consensus rate the stock a Strong Buy, based on 21 Buy ratings. The shares are expected to climb 25% higher in the year ahead. Apple stock forecast on TipRanks.
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The opinions expressed in this article are of the featured analyst. The purpose of the content is to be used for informational purposes only. It is important to do your own analysis before investing.