3 Big Stories This Apple Analyst Is Watching
JP Morgan's Rod Hall outlined three news events that he is watching for on Apple Inc. (NASDAQ: AAPL). These concern the Apple Watch, as well as news from Xiaomi about strong Chinese smartphone sales.
Apple Watch Performance Problems to be Fixed with Software Update Ahead of April 24 Launch
Early versions of the Apple Watch, which go on pre-sale Friday, have shown some "performance problems" related to how Apple and third-party apps function. However, Apple is planning to issue an update that will improve the speed of third-party apps ahead of the launch.
Hall said that the impact here is neutral.
Early Apple Watch Reviews are Mixed
It could be those performance problems or other challenges with the Apple Watch battery life, but some early reviews of the Watch are negative. Some reviews even said that the user interface was "confusing," causing many of the "leading edge tech adopters" to wait until version 2 before buying.
Hall said that this story is a "slight negative."
Xiaomi Sells $335 Million Worth of Phones in 12 Hours
Chinese phone-maker Xiaomi sold more than two million phones in 12 hours, but Hall said that the event will not impact Apple's bottom line – at least at the moment.
Apple is shrugging off any news. The stock was up about 0.44 percent ($0.55) in pre-market trading at $126.15.
Latest Ratings for AAPL
|Oct 2016||Credit Suisse||Maintains||Outperform|
|Oct 2016||Goldman Sachs||Maintains||Buy|
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