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Oppenheimer Chief Economist: Don't Underestimate Apple

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Benzinga had the chance to speak to Oppenheimer Funds' Chief Economist Jerry Webman this week, ahead of the ENGAGE 2015 International Investment Education Symposium to be held at Wayne State University on March 26.

Webman talked Apple Inc. (NASDAQ: AAPL)'s much-awaited Apple Watch.

Related Link: Oppenheimer's Chief Economist Is Asked: What Will Murder The Bull Market? 

Apple Watch: Big Hit Or Huge Miss?

The Apple Watch has been a topic of heated debate in the financial world ever since it was unveiled earlier this month.

While some argue it has the potential to change the world, others believe it will have limited mass appeal and is extremely overhyped.

When Benzinga asked Dr. Webman whether the Apple Watch will end up being closer to an "expensive accessory" or a "world-changer," he admitted that he too will be watching along with the rest of the world to see how Apple Watch's official release plays out.

Apple's Stellar Track Record

"I don't have an opinion about the company," said Webman, adding, "but one of the things Apple seems very good at is anticipating what consumers around the world want in information technology, and giving them a great way to get there. So it's probably a mistake to underestimate their ability to understand markets."

Could Apple Make A Mistake?

However, just because the iPhone and the iPad have been huge hits for Apple, Webman pointed out that even the world's largest company is not immune to mistakes.

"If you go back to when Steve Jobs was there, they brought out a few clunkers also."

Latest Ratings for AAPL

DateFirmActionFromTo
Jan 2017BarclaysDowngradesOverweightEqual-Weight
Jan 2017OTR GlobalDowngradesNegative
Jan 2017GuggenheimInitiates Coverage OnBuy

View More Analyst Ratings for AAPL
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