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Apple Update 'Reasonably Dull,' Oppenheimer Says

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Oppenheimer’s Andrew Uerkwitz maintained an outperform rating for Apple Inc. (NASDAQ: AAPL), saying that the company’s recent event was an unexciting step.

At its latest event, Apple launched the 4” iPhone SE, the 9.7” iPad Pro, some new Apple Watch bands and new software features on iOS and tvOS.

Even though the event was "lackluster," Apple is likely to have “once again widened its advantage over the only other competing platform (Android),” while taking steady steps towards reinforcing “its presence on users' wrists and laps and in their living rooms,” analyst Andrew Uerkwitz commented.

iPhone SE

As was widely expected, Apple has repackaged the leading edge hardware from iPhone 6s in a 4” frame and is offering this at a more affordable price point at $399. “We see this as a solid move for Apple to bring flagship quality hardware/software experience to more price- and size-conscious users,” Uerkwitz wrote.

New iPad Pro

As in the case of iPhones, Apple has repackaged the core features of its 12.9” iPad Pro into a 9.7” frame, offering a lighter and more affordable device, which could “replace more PCs and laptops,” the analyst mentioned.

Mobile Health And Apple Watch

Apple announced updates on ResearchKit and introduced CareKit. “As the most popular smart watch and fitness tracker, the Apple Watch now gets a $50 price reduction and a number of new band options,” Oppenheimer noted.

Latest Ratings for AAPL

Oct 2016Goldman SachsMaintainsBuy
Oct 2016Credit SuisseMaintainsOutperform
Oct 2016PiperJaffrayMaintainsOverweight

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