Global Equities Comments on Apple (AAPL) Following Thursday's New Product Event

Global Equities Research affirms Apple (Nasdaq: AAPL) at Overweight with a price target of $130 and comments on the company following the launch of its new products, which were announced on Thursday.

Analyst Trip Chowdhry noted the following:

* Apple is multi-year, multi-product, multi-service, multi-geography growth company

* Apple launched 5 major offerings, which expands Apple's market by 30% to 35%, extends its lead over the competition by at least 3 to 5 years and strengthens its developer ecosystem:

1. Apple iOS 8.1, activates Apple Pay:

2. Where Google failed with its eWallet, Apple Pay will be wickedly successful.

3. Apple has created the strongest and fast growing ecosystem of Credit card companies, issuers, banks and Merchants, which guarantees Apple Pay success

   1. Apple new iPads will have a very strong customer demand within both consumer segment as well as within the Enterprise:

   1. We spoke to about 70 customers at 2 Apple stores. Here is what we captured:

      ** All were very impressed by the new iPads that Apple launched

      ** About 30% of people we spoke to, will buy the new iPad before this year end. The remaining said, sometime next year

      ** All had iPhones, but of these, half did not have an iPad

      ** Golden Color iPads will be the most popular iPads

      ** Wifi models of iPads will probably outsell carrier enabled iPads by 10:1

      2. Developers think that the new iPads will be very successful with the Enterprise:

      ** Both IBM and Salesforce.com are pushing iPads into their installed base, by creating enterprise applications that have phenomenal user experience

      ** Apple's new programming language Swift, makes writing applications easy

   3. New iMacs: With new iMacs Apple will continue to take SONY's 3% PC market share, as SONY has exited the PC business

   4. Apple Yosemite OS for Mac: This is a very strong release, which binds the user experience across all Apple Devices

   5. Watch SDK: Every Developer that we have spoken to is eagerly waiting to start writing applications to Apple Watch SDK

   * Taken together, the new announcement expands Apple's addressable market by about 30% to 35%, extends its lead over the competition by 3 to 5 years, solidifies and extends its developer ecosystem

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

   Apple closed at $96.26 yesterday.

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