Technology

Analysts Weigh In On Apple Inc. Amidst Apple Watch And Apple Car News

A lot of buzz has been circulating about Apple’s newest product, the Apple Watch, poised to hit stores this coming April. In light of this, Global Equities Research analyst Trip Chowdhry weighed in on Apple on February 23rd, maintaining a Buy rating on the stock with a price target of $165.

After speaking to roughly 500 Apple developers and attending six Apple Watch-Kit hackathons, the analyst believes that “by April 10th, Apple may have about 100,000 Apple Watch applications in the AppStore.” With that said, Chowdhry noted the company’s “Winning Recipe” of “MORE DEVELOPERS = MORE APPLICATIONS = MORE DEVICES SOLD.” He does not believe the current price of $350 will be a concern. In comparative terms, if a user has 100 apps on his/her Apple Watch, “the consumer is getting 100 devices for $350 .i.e. $3.50 per device.”

Chowdhry compared the Apple Watch to Google Wear, noting “Every aspect of Apple Watch is extremely well thought-off and seamlessly integrated – right from Software development tools, to AppStore, to the Design of the Apple Watch itself. Google Android Wear seems quite disconnected and haphazard in implementation.”

Apple Watch And Apple Car

Trip Chowdhry has rated Apple 15 times since May 2013, earning a 100% success rate recommending the stock and a +43.4% average return per recommendation. Overall, Chowdhry has a 72% success rate recommending stocks and a +29.3% average return per recommendation.

Cantor Fitzgerald analyst Brian White weighed in on Apple a few days earlier on February 20th, maintaining a Buy rating on the stock and a $160 price target.  White’s rating was driven by news that Apple is planning to develop and build an electric vehicle as soon as 2020. He noted, ““We believe the personal robot category offers great potential over the next decade and fits well with Apple’s skill set. In our view, this week’s media reports of Apple’s potential in the auto market speaks to continued innovation at Apple.”

The analyst added, “In our view, as more “things” become computers, we believe Apple is very well positioned to leverage its heritage in the industry developing hardware and software innovations together across a vast digital ecosystem, creating easy-to-use, aesthetically pleasing products. Given the growing enthusiasm around personal robots at International CES last month, we believe Apple has an opportunity to leverage its heritage in the computer market, technology innovation in mobile devices and reputation for making user-friendly solutions to develop personal robots for the home.”

Apple Watch And Apple Car

Brian White has rated Apple 102 times since October 2010, earning an 83% success rate recommending the company and a +32.7% average return per recommendation. Overall, White has a 75% success rate recommending stocks and a +21.3% average return per recommendation.

On average, the top analyst consensus for Apple on TipRanks is Moderate Buy.

To see more recommendations for Apple, visit TipRanks today!

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  • iHadHer

    That’s the more reason Apple or a strong technological company needs to go in there and cause disruption. That is what tech companies do. They go in and cause disruption by making better products using better materials and more cost effective, tying the products to a well served ecosystem, and changing the business model. Look at the mobile phone industry before Apple and Google arrived to change it. One could only buy mainly Nokia, very expensive, on contracts through the networks. There was poor ecosystem and even poorer products which were mainly a spam copy of each other. That changed with the iPhone and Google opened it up by making their Android software free for all. They have done the same with the PC industry to an extent. The own the tablet market. They have wearables in the bag and that market is only beginning. They’re are looking at cars, home automation, entertainment, everything !
    You guys need to remember that Apple and Google are not hardware companies. They are technology companies who happen to produce amazing hardware and software to power their products and monetize off of it. Apple and Google are the same. Only that one (Apple) focuses on the Premium end and the other (Google) tries to serve the Mass market segment

  • Kelley

    Didn’t read Tom Cooke’s statement but if you know anything about the auto industry it just doesn’t make sense.

  • Kelley

    I doubt Apple is dumb enough to get into the auto industry. The profit margin is too small and it would be too expensive to set up distribution outlets. It’s not something they could sell from their Apple stores. Just doesn’t make sense for them and I’m sure they would have the big three doing everything they can to block them where ever they can.

  • dentabill

    This guy has a 43% return rating? if everyone listened to me twenty seven months ago (give or take) then they’d have a 150% return. like i do.

  • mds

    I have an idea for you guys…..
    Rather than perpetuating speculation; why not report on what is happening with AAPL’s sales in China for the New Years celebration.
    Funny how good news like that stays mum; while investors are manipulated with nonsense.

  • Fundamentals

    Soon after the launch of Apple iPhone6, stupid people were spreading rumors about bending problems (as if their 25K car does not bend). Calm down, hey its just a phone !! What about the hyper sale of the same phone generating 18 billion dollars quarterly profit, highest ever in the history of corporate quarters.

  • Fundamentals

    Apple is a smart company. They keep their mouth shut and surprise their competitors. They perform their projects with excellence and deserve premium pricing. 80% of speculation about Apple is a road to nowhere. Very few analyst understand Apple and half of them end up with poor estimates (short of actual) loosing their own credibility.

  • mds

    Idiot…..THERE IS NO CAR!!!!!!
    When will you stop contradicting Tim Cook’s statement saying so???