Apple (AAPL): Product Announcements Not Enough To Improve Financials - Oppenheimer
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Oppenheimer analyst, Andrew Uerkwitz, reiterated his Perform rating on shares of Apple (NASDAQ: AAPL) after the product announcements offered insights into the future of the device ecosystem but did not offer enough new to materially increase the company's financial opportunities.
The analyst stated "The AirPods come across as a surprise. Apple manages to integrate many smart sensors in regular sized earbuds. We notice that Apple Watch is increasingly portrayed as a fitness device. We believe the event offers interesting glimpse into Apple's future device ecosystem. However, we are unconvinced that those new devices will materially alter our current financial estimates".
Shares of Apple closed at $108.36 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Apple (AAPL): Wells Fargo Thinks Upside Is In The Stock
- Oppenheimer Raises Price Target on Microsoft (MSFT) to $65 Following 1Q Beat
- UPDATE: Seaport Global Securities Starts Union Pacific (UNP) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesAndrew Uerkwitz
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!