Longbow Research Reiterates Neutral Rating on Apple (AAPL)

Longbow Research analyst Shawn Harrison reiterated a Neutral rating on Apple (NASDAQ: AAPL) following the company's “It’s Showtime” event. AAPL announced that it will be launching several services such as Apple News+, Apple Card, Apple Arcade, and Apple TV+. Somewhat surprising, pricing was not detailed for all services. Near term, the Apple Card appears to be the most compelling offering.

Without iPhone demand acceleration, we currently do not see near-term catalysts to drive EPS upside to support the valuation rally.

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 $190.60 yesterday.

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