JP Morgan Positive on Apple's WWDC 2012 Offerings

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JP Morgan has published a research report on Apple
AAPL
commenting on conference highlights from WWDC 2012. In the report, JP Morgan writes, "We think that Apple's new offerings to kick-off WWDC 2012 are a net positive for the model and stock. In our view, the hardware and software advancements stand to sustain Apple's increasing role in the end user's digital life. While the MacBook refresh was in line with the blogosphere's expectations, we believe that the new specs do not cede ground to the Ultrabook crowd. Overall, we think the biggest incremental highlights from WWDC were Passbook, Maps, and FaceTime over cellular. These software-driven services are a strong set up for the iPhone 5 launch, in our view." JP Morgan maintains its Overweight rating and $715 price target on Apple, which closed yesterday at $571.17.
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Posted In: Analyst ColorNewsOfferingsReiterationEventsAnalyst RatingsJP MorganWWDC 2012
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