Analyst: It's 'Interesting' Apple's Product Event Is The Week Of Its FBI Hearing
JPMorgan on Monday issued a note on Apple Inc. (NASDAQ: AAPL) ahead of the company's product event, which will be held the week of March 21. The firm rates Apple as Overweight with a $141 price target.
Analyst Rod Hall wrote, “Apple's rumored March press event will happen the week of March 21, possibly on the 21st itself...We find it interesting that this date seems to have slipped to the week of the hearing on the FBI iPhone unlock case.”
Related Link: Apple Explains 'GovtOS' In New Court Filing
Apple has been asked by the U.S. government to disable security preventing the FBI from accessing encrypted devices. The company argues that this would be a breach of data security for all iPhone users while the U.S. government argues that this measure would increase the safety of U.S. citizens, particularly against terrorism.
At the event, JPMorgan noted that Apple will feature a new iPad as well as the 4 inch iPhone SE. Reports have recently surfaced that the new iPhone model will be cheaper and lack 3D Touch sensors, while combining the look of the iPhone 6s and 5s.
Apple is currently trading at $97.56, up 0.67 percent.
Latest Ratings for AAPL
|Jan 2017||OTR Global||Downgrades||Negative|
|Jan 2017||Guggenheim||Initiates Coverage On||Buy|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.