Jefferies issued a report on Apple Inc. AAPL Monday after the company gave its keynote presentation of their new Apple Watch. Jefferies rates Apple as a Hold with a $127.14 price target.
A Closer Look At The Report
Analysts Sundeep Bajikar, Mark Lipacis, Billy Kim, and Marco Chen wrote in the report, "We found the Apple Watch update roughly consistent with our and investor expectations."
The report continued, "We think this is the first time since the iPod that Apple might have introduced a new product category without dramatically raising the technology or capability bar over competition, particularly from Samsung. We expect Apple Pay and fitness/health tracking to serve as the killer applications."
Promotion Points
One of the main promotions that Apple is making for its watch are the applications for health and fitness tracking.
The watch features an activity app that shows your daily fitness progress and learns your activity levels. This allows the watch to suggest personalized activity goals.
Jefferies believes that there will be a higher level of consumer interest in health and fitness applications, and the Apple Watch provides consumers a seamless way to achieve their fitness goals while connecting and communicating with their medical professionals.
Apple closed Monday at $127.14.
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