Goldman Sachs Maintains Top Rating on Apple (AAPL) After WWDC: Getting More Deeply Integrated

June 12, 2012 7:39 AM EDT
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Goldman Sachs weighed in on Apple (NASDAQ: AAPL) following updates at Worldwide Developers Conference, which included a refreshed Mac notebook line, a update on the upcoming Mountain Lion OS, and a preview of iOS 6 due out this fall.

The firm said the most notable news from the conference was that Siri will now be on the new iPad. The firm said this "should add to the momentum we expect for the device as it continues to ramp this quarter." They also highlighted that FaceTime will be able to run over a cellular not just over Wi-Fi. "We expect this to strengthen Apple's platform for customers and to further separate Apple from its major competitors in the smartphone and tablet markets," Goldman's analyst said.

Goldman expects the updates to "drive near-term demand momentum for Macs and iPads." Longer-term, the announcements "provided important software enhancements that should continue to strengthen Apple's platform."

The firm reiterated their Conviction Buy List rating and price target of $850.00.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $571.17 yesterday.

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