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Here's What Goldman Sachs Liked About Apple's MacBook Event

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Here's What Goldman Sachs Liked About Apple's MacBook Event

Apple Inc. (NASDAQ: AAPL) hosted an event on October 27, during which it announced a major refresh to its MacBook Pro line of notebooks, as well as a new TV app.

“We view both announcements as incremental positives for Apple,” Goldman Sachs’ Simona Jankowski said in a report. The analyst maintained a Buy rating with a price target of $124.

MacBook Pro Features

Jankowski cited two significant new features in the new models:

  1. Touch Bar - This is a touch display strip positioned just above the keyboard, and replaces the function key row with soft keys that change dynamically, depending on the application. “We view this as a powerful innovation that’s uniquely enabled by Apple’s control of both the hardware and software,” the analyst wrote.
  2. Touch ID - This is integrated with the power button and is capable of not only authenticating the user but also enabling secure single click payments on “several hundred thousand websites that now support Apple Pay.”

The new MacBook Pro models will help Apple’s Mac business to return to growth in the March quarter, after having declined for the previous five quarters. Jankowski said the new TV app aggregates content from a variety of platforms, which seems to be “a step in the right direction to promote more content consumption and thus add value to the Apple ecosystem.”

Apple's wireless AirPods have been delayed till 2017, which may be a positive for the product in the long run, since it seems to have some glitches, according to Business Insider.

Apple’s shares have been under pressure since the company reported disappointing fiscal Q4 iPhone sales numbers and margins.

Latest Ratings for AAPL

DateFirmActionFromTo
Nov 2019MaintainsOverweight
Nov 2019MaintainsOverweight
Nov 2019MaintainsOutperform

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

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