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Rod Hall: Apple Just Made A 'Major' Ecosystem Development

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Rod Hall: Apple Just Made A 'Major' Ecosystem Development
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  • Apple Inc. (NASDAQ: AAPL) shares have been on a downward trajectory and have lost 22 percent since November 9.
  • JPMorgan’s Rod Hall maintained an Overweight rating for the company.
  • Apple’s latest addition of a server-side API to CloudKit is a “major positive,” Hall stated.

Apple has added a server-side API to CloudKit. This would enable developers to add more functionality to CloudKit-powered apps, and allow developers to interact with the iCloud CloudKit database outside of user interaction with iOS, Mac or web apps.

This web service API launched by Apple allows developers to run independent code on servers that can add, delete and modify records in the CloudKit stack. Till now, interaction with CloudKit has been limited to only those APIs that Apple provided in apps.

Analyst Rod Hall commented, “We see this as a major positive development in the Apple development ecosystem.”

According to media reports, Apple has also launched a couple of new retail initiatives, namely an upgraded iPhone trade-in program for iPhones with damaged screens, cameras, or buttons, and a new program that allows Apple Retail Stores to install screen protectors on iPhones.

Apple Stores would now be able to offer credit for iPhone 5s, iPhone 6 and iPhone 6 Plus units with damaged screens, cameras, or buttons. Apple Stores would also begin offering official plastic screen protectors on iPhones in the forthcoming weeks.

Hall wrote, “As iPhone growth continues to mature in the high end we expect Apple to roll out additional initiatives to encourage upgrades and generate income on the iPhone base.”

Latest Ratings for AAPL

DateFirmActionFromTo
May 2018BMO CapitalMaintainsMarket PerformMarket Perform
May 2018Canaccord GenuityMaintainsBuyBuy
May 2018BarclaysMaintainsEqual-WeightEqual-Weight

View More Analyst Ratings for AAPL
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