'Apple Monitor' Shows Stock Still Worth $200

• Shares of Apple Inc. AAPL have declined 10.71 percent year to date, falling to a low of $93.78 on February 11.
• Drexel Hamilton’s Brian J. White has maintained a Buy rating on the company, with a price target of $200.
• All the companies in Drexel Hamilton’s Apple Monitor have reported performance and sales for January meaningfully ahead, with the strongest results since January 2008.

“With a recent earnings reset, a new iPhone cycle on the horizon with the iPhone 7, the ramp of Apple Watch, the potential for increased levels of cash paid out to shareholders and new geographic opportunities, we believe Apple represents one of the best values in the tech world,” the Drexel Hamilton report said.

Analyst Brian White mentioned that the Apple Monitor indicated flat month on month January sales, with a better than average decline of 11 percent over the past 10 years.

“Given the significant underperformance for our Apple Monitor in November and December, we are pleased to see this strong outperformance in January,” White stated.

There have been media reports of a special Apple event planned for March 15, at which the company intends to unveil its new 4-inch iPhone and new iPad Air 3. White expects the production ramp for these new products to have already begun in January.

“Our own research in China supports Apple's work on a lower-priced, 4-inch iPhone to better cater to consumers that prefer a smaller form factor screen with updated features but a lower price point relative to the 6s/6s Plus,” the analyst noted.

In addition, the New York Times reported that Apple has been working on its own original TV show with Dr. Dre. The series is to be titled “Vital Signs.”