Needham & Company Reiterates Buy Rating on Apple (AAPL); 'AAPL Needs to Buy DIS to Drive Adoption of Vision Pro'

Needham & Company analyst Laura Martin reiterated a Buy rating and $195.00 price target on Apple (NASDAQ: AAPL).

"Our top 2 takeaways from AAPL's WWDC keynote were:

"AAPL vs META? AAPL wins (our view). META has been trying to create the next computing platform since it bought Oculus in 2014. Since nearly all of META's revs comes from mobile devices, it wants to create the next underlying platform, rather than being a victim of Android and iOS policy shifts. We believe AAPL's new AR-based Vision Pro headsets beats META's VR-based headset execution."

"AAPL Buys DIS. The fact that DIS CEO Bob Iger was on stage touting AAPL's Vision Pro googles demonstrates the compelling strategic fit between DIS's content and AAPL's wearable technology. At $3,500, we expect adoption to be slow. However, if AAPL buys DIS, its storytellers could create unique content to drive consumer adoption of AAPL's Vision Pro goggles, we believe."

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 $179.57 yesterday.

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