Toni Sacconaghi's 5 Key Apple Takeaways

Bernstein's Toni Sacconaghi maintained an Outperform rating on

's stock on Thursday with an unchanged $125 price target following the official introduction of the iPhone 7. Sacconaghi offered five key takeaways from the event in a research note.

The iPhone 7 was "largely as expected" while the component upgrades should go over well with addressing consumer needs. However, it is "unclear" how the upgraded parts will affect upgrade rates relative to last year.

The iPhone 7 will launch a full nine selling days before the end of the quarter on September 16, marking the "broadest and potential fastest roll-out ever." In addition, the device will debut in 28 geographies, including Greater China on day one which may help the September ending quarter sales but at the expense of the December ending quarter.

According to Sacconaghi, Apple may be looking to offset any component related price increases by encouraging a positive product mix and boosting the prices for the iPhone 7 Plus relative to prior generations.

Sacconaghi stated that the newly upgraded Watch Series 2 has longer-term potential, its high price, "continued tepid" battery life and the absence of a unique health monitoring capability will likely "limit its overall impact" in the near-term.

Finally, Sacconaghi pointed out that Apple's event didn't include any major announcements on the Services front but a focus on gaming can offer an "attractive" revenue stream. The analyst also reaffirmed his thesis that Apple "should look to try to migrate its offerings towards a subscription based model."