Market Overview

Apple A Big Winner From Mobile World Congress

Apple A Big Winner From Mobile World Congress

On Monday, Drexel Hamilton issued a note on the IT hardware and software industry, specifically highlighting Apple Inc. (NASDAQ: AAPL) and Cisco Systems, Inc. (NASDAQ: CSCO) as being well positioned to benefit from the Internet-of-Things (IoT) trend.

Brian White, an analyst at Drexel Hamilton, wrote, "In our coverage universe, we believe Cisco [...] and Apple are well-positioned to benefit from IOT, while Cisco [...] evolving well to capture new opportunities in next generation networks. Despite numerous smartphone launches, we remain confident in Apple's position in the industry."

Related Link: Tesla Keeps Poaching Key Apple Workers

Drexel Hamilton noted several key takeaways from the conference including Big Data and expected smartphone launches that are likely to drive consumer demand for the IT hardware and software industry. In 2016, Apple is expected to release a diverse portfolio of products including the 4-inch iPhone SE, a new iPad model, and the iPhone 7, which is expected to be launched in September.

Regarding the wearable technology segment, Drexel Hamilton wrote that Apple has room for growth opportunities in the market, particularly with the Apple Watch. With the wearable market valued at $14 billion, Drexel Hamilton believes that the industry could grow to $34.2 billion in 2020, with Apple leading competitors with their high quality and highly integrated Apple Watch.

At The Time Of This Writing...

  • Apple was seen trading at $97.45, up 0.56 percent on the day.
  • Cisco was seen trading at $26.32, down 0.32 percent on the day.
  • Image Credit: Public Domain

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    Jan 2020B of A SecuritiesUpgradesHoldBuy

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