Wedbush Positive on Apple Ahead of New Product Catalysts
Wedbush Securities has published a research report on Apple (NASDAQ: AAPL) with a positive outlook ahead of new product catalysts.
In the report, Wedbush writes, "Remain positive going into Worldwide Developer Conference next week in San Francisco. We plan to attend the keynote by CEO Tim Cook on Monday, where we expect the company to announce a refresh of its Mac product line, new software and iCloud enhancements, and updated metrics highlighting traction with its overall product portfolio. We continue to recommend investors position long ahead of the iPhone 5 launch that we expect later this year. New Mac products could represent a large refresh. Based on the parts lists posted on the AppleInsider blog, we expect that there could be as many as 14 new Mac models. If true, this would represent a major refresh of the current Mac family of 19 Mac models under the MacBook Air (from $999), MacBook Pro (from $1199), Mac mini (from $599), iMac (from $1199), and Mac Pro (from $2499) lines. New Macs are expected to be thinner with improved resolution with retina screens."
Wedbush maintains its Outperform rating and $800 price target on Apple. which closed yesterday at $571.72.
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