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Goldman On Apple's iOS 10 Updates

Goldman On Apple's iOS 10 Updates
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Apple Inc. (NASDAQ: AAPL) inaugurated its 4-day Worldwide Developers Conference [WWDC] 2016 on June 13 with updates on iOS 10. Goldman Sachs’ Simona Jankowski maintained a Buy rating for the company, with a price target of $124. The analyst believes the WWDC event would not impact the stock in the near term, with announcements being broadly in-line with expectations.

Related Link: Apple's 3 Most Important WWDC Announcements

iOS 10 Features

Analyst Simona Jankowski mentioned that a host of new features had been added to Apple’s iOS 10. These include:

  • Messages: Personalized and animated content for iMessages. Third-party integration, rich links, inline videos, emoji predictions, replacing words with emojis, bubble effects, handwritten messages, full screen effects and "invisible ink.”
  • Home: New Home app for HomeKit automation products.
  • Maps: App redesign, third-party integration, search, pan & zoom, traffic and alternative routes. Also available on CarPlay.
  • Music: Apple Music app redesign, lyrics and daily curated playlist. Also available on PC and Android.
  • News: App redesign, subscriptions and breaking news notifications.
  • Phone: Voicemail transcription and VoIP integration.
  • Photos: "Memories" feature analyzes photos for people, location & objects; share photo movies and edit live photos.
  • QuickType: Suggestions and predictive typing.

Management indicated that Apple Music had 15 million paid subscribers, up from 13 million as of April 2016. News had crossed the 60 million mark for monthly users. The public beta of iOS 10 is scheduled to be released in July, with the final version planned for the fall, Jankowski said.

Latest Ratings for AAPL

Apr 2018Morgan StanleyMaintainsOverweightOverweight
Apr 2018Monness Crespi HardtInitiates Coverage OnBuy
Mar 2018BarclaysMaintainsEqual-WeightEqual-Weight

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