Oppenheimer Remains Bullish Following Apple's (AAPL) Keynote Speech

Oppenheimer reiterates an Outperform rating and $155.00 price target on Apple (NASDAQ: AAPL) following its worldwide developers conference keynote speech. Analyst Andrew Uerkwitz said that investors shouldn't overlook the multitude of tweaks Apple made to its OS.

Uerkwitz commented, "Yesterday Apple held its Worldwide Developers Conference keynote speech. While there were no big surprises, investors shouldn't overlook the multitude of tweaks Apple made to its OS. Cumulatively the updates will, in our view, further separate its ecosystem and UI from the competition. This supports our thesis that Apple will continue to outperform smartphone sales expectations and gives us confidence in our aboveStreet estimates for 2016. Arguably there is even upside to our numbers with the addition of Apple Music and a rejuvenated iPad interface. We reiterate our Outperform rating."

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 $127.80 yesterday.

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