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Oppenheimer: Apple Watch Will Lead Sales, Price Higher

Oppenheimer: Apple Watch Will Lead Sales, Price Higher
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Analysts at Oppenheimer upped their price target on Apple Inc. (NASDAQ: AAPL) to $155, from $130, based on a more bullish view of Apple's product cycle, including the Apple Watch. The watch will be a point of "differentiation, positioning, [and] competitive advantage" for Apple, according to Oppenheimer's new report.

Ahead of the March 9 event, the analysts expect the event to focus around the watch, "including details on apps, hardware components, sales strategies, and shipment timing." The analysts also expect Apple to refresh MacBook Air and Apple TV, while also making a move to merge iTunes Radio and Beats Music for the first half of 2015.

Related Link: How Will Apple React To What This Analyst Says On Friday?

Of all these, however, the watch reigns supreme. The analysts said that the watch has three roles: "utility, affection and luxury." The watch will be a success as the result of "superior understanding and expertise" of user experience. As a result, the Watch will be more elegant, feature-rich and user friendly than competitors.

As for risks, the analysts pointed to 2016 iPhone sales, lower margins, slower growth in China, fewer Apple Watch shipments and higher spending in operations.

Image credit: Apple

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Oct 2016Credit SuisseMaintainsOutperform
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Posted-In: OppenheimerAnalyst Color Price Target Analyst Ratings Tech Best of Benzinga


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