Market Overview

Apple's 3 Most Important WWDC Announcements

Share:
Apple's 3 Most Important WWDC Announcements
Related AAPL
Tech Sector Finally Recovers From The Dot-Com Bubble Of 2000
A Look Back At PayPal's Impressive Week
Can Qualcomm Reverse its Fate? (GuruFocus)

Apple Inc. (NASDAQ: AAPL) began its Worldwide Developers Conference on Monday. Goldman Sachs’ Simona Jankowski maintained a Buy rating for the company, with a price target of $124. The analyst commented that the announcements made at the WWDC were in-line with broader expectations and were unlikely to impact the stock in the near term.

Jankowski mentioned that the three most important announcements made by Apple were related to Siri, Apple Pay, and Apple TV. All of these “add significant value to the ecosystem, supporting hardware purchases and margins longer-term.”

Related Link: Apple Music Hits 15 Million Paid Subs, To Get New Look

Siri

Siri for macOS was launched, opening up to third-party apps. While Siri had certain competitive advantages like being multilingual, the latest development brings Apple’s capability more in-line with that of Echo by Amazon.com, Inc. (NASDAQ: AMZN).

Apple Pay

Apple Pay is now available on Macs. Authentication is enabled via Touch ID on the iPhone. This not only puts Apple in more direct competition with Paypal Holdings Inc (NASDAQ: PYPL), but also “uniquely leverages its platform advantage,” although this limits the user base to Mac and iPhone owners, Jankowski said.

Apple TV

Apple TV would now come with Sling TV, a bundle of 27 channels priced at $20 per month offered by DISH Network Corp (NASDAQ: DISH). Moreover, the user would have an Apple-enabled single sign-on on Apple TV, rather than having to authenticate separately for each app or channel. “With 1,300 channels, 6,000 apps, and over 650,000 TV episodes/movies, the Apple TV experience is becoming richer and now more seamless, another step in the evolution to “Apple-as-a-Service”,” the analyst wrote.

Latest Ratings for AAPL

DateFirmActionFromTo
Jul 2017Morgan StanleyMaintainsOverweight
Jun 2017MizuhoDowngradesBuyNeutral
Jun 2017Pacific CrestDowngradesOverweightSector Weight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Analyst Color Long Ideas News Reiteration Events Analyst Ratings Tech Trading Ideas Best of Benzinga

 

Related Articles (AAPL + AMZN)

View Comments and Join the Discussion!