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3 Stocks To Play Following Apple's Product Event

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3 Stocks To Play Following Apple's Product Event

Tech giant Apple Inc. (NASDAQ: AAPL) unveiled Tuesday a new lineup of iPad and Mac computers that could benefit three stocks, according to DA Davidson.

  • Screen protection and battery saver maker Zagg Inc (NASDAQ: ZAGG)
  • Video game headset maker Turtle Beach Corp (NASDAQ: HEAR)
  • Keyboard and accessory maker Logitech International SA (NASDAQ: LOGI)

The Analyst

DA Davidson's Tom Forte:

  • Maintains Apple at Buy, unchanged $265 price target.
  • Maintains Zagg' at Buy, unchanged $20 price target.
  • Maintains Turtle Beach at Buy, unchanged $38 price target.
  • Maintains Logitech at Buy, unchanged $58 price target.

Zagg

Apple's new lineup of devices include "modest" battery improvements but consumers should continue buying Zagg's battery saving products, Forte said in a note. Apple didn't unveil a wireless charge pad, which bodes well for Zagg's lineup of wireless charging bases. Zagg could also expand its screen protectors against potentially damaging blue light to include laptops and tablets.

Turtle Beach, Logitech

As part of Apple's new iPad Pro demonstration, the company showed an impressive clip of "NBA 2K." Forta said the presentation could signal the future of video games gravitating towards all devices, including tablets. This trend bodes well for the overall e-sports business and justifies a bullish stance on companies like Turtle Beach and Logitech.

Price Action

Shares of Zagg were higher by 2 percent.

Shares of Turtle Beach were higher by 4.4 percent.

Shares of Logitech were higher by 3 percent.

Related Links:

3 Reasons To Love Apple Right Now: iPhone, Services, Wearables

DA Davidson: Turtle Beach Winning On Secular Shift In Gaming Trends

Photo courtesy of Turtle Beach.

Latest Ratings for HEAR

DateFirmActionFromTo
Mar 2019MaintainsOutperformOutperform
Aug 2018MaintainsOutperformOutperform
Aug 2018MaintainsOutperformOutperform

View More Analyst Ratings for HEAR
View the Latest Analyst Ratings

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