Goldman Sachs Comments on Office for iPad Announced (AAPL) (MSFT)
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Price: $166.90 +0.64%
Rating Summary:
39 Buy, 25 Hold, 7 Sell
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Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Goldman Sachs reiterated a Buy rating on Apple (NASDAQ: AAPL) with a price target of $610.00. Comments follow Microsoft's (Nasdaq: MSFT) Office for iPad announcement.
Analyst Bill Shope said, "We've long observed signs that enterprise users are warming up to iPads, but technological and institutional hurdles have hindered adoption. Microsoft's announcement today helps improve the iPad's viability as a productivity tool in the enterprise. With that said, we continue to believe that tablets will be primarily consumption-oriented devices for the foreseeable future, and Apple's enterprise opportunities will be more heavily dependent upon continued adoption of BYOD and improved enterprise functionality for the iPhone."
Analyst Heather Bellini also commented.
"Microsoft emphasized how Office has been customized for mobile use, noting features like the number keypad pop-up for Excel. To highlight enterprise benefits, Microsoft discussed how iPad developers will be able to create apps that appeal to the enterprise with easy integration to Active Directory. On the BYOD trend, IT departments will be able to use Microsoft's mobile device management suite, called Intune, to manage iOS and Android devices. While Mr. Nadella stressed Microsoft's focus on the Windows OS, we continue to see the potential for Office for iPad to accelerate the erosion of the PC market, creating incremental pressures on Microsoft's Windows business."
Goldman Sachs has a Sell rating on Microsoft.
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 $537.46 yesterday.
Analyst Bill Shope said, "We've long observed signs that enterprise users are warming up to iPads, but technological and institutional hurdles have hindered adoption. Microsoft's announcement today helps improve the iPad's viability as a productivity tool in the enterprise. With that said, we continue to believe that tablets will be primarily consumption-oriented devices for the foreseeable future, and Apple's enterprise opportunities will be more heavily dependent upon continued adoption of BYOD and improved enterprise functionality for the iPhone."
Analyst Heather Bellini also commented.
"Microsoft emphasized how Office has been customized for mobile use, noting features like the number keypad pop-up for Excel. To highlight enterprise benefits, Microsoft discussed how iPad developers will be able to create apps that appeal to the enterprise with easy integration to Active Directory. On the BYOD trend, IT departments will be able to use Microsoft's mobile device management suite, called Intune, to manage iOS and Android devices. While Mr. Nadella stressed Microsoft's focus on the Windows OS, we continue to see the potential for Office for iPad to accelerate the erosion of the PC market, creating incremental pressures on Microsoft's Windows business."
Goldman Sachs has a Sell rating on Microsoft.
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 $537.46 yesterday.
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