Apple Is Making A Rare Move With Its March 21 Event
JPMorgan’s Rod Hall maintained an Overweight rating for Apple Inc (NASDAQ: AAPL) on expectations of the company announcing new iPhone and iPad models at its media event on March 21.
In a rare move, Apple has invited only the media, and not investors, for the event at its Cupertino corporate headquarters, analyst Rod Hall mentioned.
Related Link: More iPhone Cuts Came Today, But Does It Really Matter?
New Models Of iPhone And iPad To Be Launched
Apple is expected to announce a new 4 inch iPhone SE and a 9.7-inch iPad Pro. The smaller iPhone is likely to sport a metal-backed, curved edge design similar to the current iPhone 6s with refreshed internal features like an A9 processor and NFC support for Apple Pay.
Hall expects Apple to announce a price reduction for the new 4” device to $350, given that the company’s current low price point for the iPhone is $450.
Meanwhile, the Department of Justice has alleged that among other things, Apple has engaged in false, corrosive rhetoric regarding the iPhone Unlocking case. The DOJ claims that Apple has misrepresented the situation to talk about encryption on a grand scale, rather than the one device to which the government is seeking access.
Apple, scheduled to appear in Court later this month, said it would file a response to the DOJ brief by the March 14 deadline.
Latest Ratings for AAPL
|Oct 2016||Goldman Sachs||Maintains||Buy|
|Oct 2016||Credit Suisse||Maintains||Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.