Oppenheimer Sees Apple Inc. Shares Outperforming Following Apple Watch Event
Oppenheimer analyst Andrew Uerkwitz maintained an Outperform rating on Apple Inc. (NASDAQ:AAPL), after attending Apple’s press event on March 9. No price target was provided. Apple’s press event provided details on the Apple Watch, as well as unveiled a new MacBook model. The product has a thinner design with a pressure-sensing touchpad.
Uerkwitz is confident in the Watch after trying it on for himself. He commented that the Watch has features that are unique to the product and feels that it is the “‘concierge’ of the broader Apple ecosystem” and has the ability to fundamentally alter that way in which we interact with technology. The Watch will enable “easy and intimate interpersonal communications” while also serving as a fitness resource. The Watch will be able to host apps, and Uerkwitz noted he was impressed how the design of the watch makes it easy to view notifications and feedback. Prices of the watch will range from $349 to $10,000.
To conclude, Uerkwitz noted, “We see the Watch as a very important product that may significantly impact the way Apple designs its future products and the way people interact with mobile devices. We see it ushering in the age of notifications, when mobile device users will spend less time inside apps and act more directly with notifications.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Uerkwitz has a total average return of 3.0% and a 54.7% success rate. Uerkwitz has a 17.0% average return when recommending AAPL, and is ranked #1286 out of 3508 analysts.