Market Overview

UPDATE: Piper Jaffray Reiterates Apple at Buy with $900 PT on Wearable Computer Thoughts

Share:
Related AAPL
Tech Stocks Endure Massive Friday Selloff, End Week Weakly
Apple Traders Now Monitoring More Condensed Price Points Near $95
It Is A Stock Picker's Market (Seeking Alpha)

Piper Jaffray reiterated its Overweight rating and $900 price target on Apple (NASDAQ: AAPL) in a note released on Wednesday.

Piper Jaffray noted, "We note that recent speculation from tech blogs suggests that Apple may launch a watch as a companion device to the iPhone. While we are unsure of the ultimate launch timing (likely 2014 or later), we believe that Apple will eventually introduce some type of wearable computing product. As we have previously noted, we believe that wearable computers will ultimately be a major future trend. We expect Apple could profit from the trend in two ways. First, the company could create products for consumers, like the watch. Second, we believe the company could expand its MFi program that licenses hardware manufacturers the ability to make products that connect to iOS devices."

Apple closed at $532.17 on Monday.

Latest Ratings for AAPL

DateFirmActionFromTo
Jan 2016BarclaysMaintainsOverweight
Jan 2016FBR CapitalMaintainsOutperform
Jan 2016Piper JaffrayMaintainsOverweight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Reiteration Intraday Update Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!

Get Benzinga's Newsletters