Will Apple's (AAPL) WWDC Be Catalyst Investors Have Been Waiting For?
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Price: $168.92 -2.18%
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 50
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 50
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Apple's (Nasdaq: AAPL) Worldwide Developers Conference (WWDC) on June 10th could be a catalyst for the stock, thinks Goldman Sachs analyst Bill Shope. Investors do not anticipate a new iOS devices, but changed to iOS and OS X, along with potential game-changing service enhancements, give Goldman and others hope.
"We continue to believe that WWDC could be a positive catalyst for the story, as the reveal of iOS 7 and enhancements to iOS services could begin to change the broad perception that Apple's ability to innovate has been impaired," said Shope.
The new iOS design is expected to have a 'flatter' appearance which could change the look and feel of devices that run on iOS 7.
“These changes are unlikely to dramatically alter the way users interact with their iPhones and iPads, but could greatly change the look and feel of iOS devices; indeed, as the front faces of most mobile devices are increasingly dominated by touch screens, the software UI (user interface) is likely to become paramount for aesthetic differentiation,” said the analyst.
Goldman also expects updates for iCloud and, hopefully, performance improvement the iPhone's loyal but glitch-plagued assistant, Siri. There is also hope for new "game-changing" innovations. These could include the launch of iRadio and movement on an iOS-centric payments service.
"In addition, we believe the potential addition of a fingerprint sensor for the next version of the iPhone could be specifically targeted at supporting payment services on the new device," speculated Shope.
Goldman Sachs has a Buy rating on Apple (NASDAQ: AAPL) with a price target of $500.00.
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 $451.58 yesterday.
"We continue to believe that WWDC could be a positive catalyst for the story, as the reveal of iOS 7 and enhancements to iOS services could begin to change the broad perception that Apple's ability to innovate has been impaired," said Shope.
The new iOS design is expected to have a 'flatter' appearance which could change the look and feel of devices that run on iOS 7.
“These changes are unlikely to dramatically alter the way users interact with their iPhones and iPads, but could greatly change the look and feel of iOS devices; indeed, as the front faces of most mobile devices are increasingly dominated by touch screens, the software UI (user interface) is likely to become paramount for aesthetic differentiation,” said the analyst.
Goldman also expects updates for iCloud and, hopefully, performance improvement the iPhone's loyal but glitch-plagued assistant, Siri. There is also hope for new "game-changing" innovations. These could include the launch of iRadio and movement on an iOS-centric payments service.
"In addition, we believe the potential addition of a fingerprint sensor for the next version of the iPhone could be specifically targeted at supporting payment services on the new device," speculated Shope.
Goldman Sachs has a Buy rating on Apple (NASDAQ: AAPL) with a price target of $500.00.
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 $451.58 yesterday.
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