In a new research note from Barclays on Tuesday, the firm sees additional gains for Apple Inc. (NASDAQ:AAPL)’s market cap as it grabs profits from the traditional PC and mobile phone industries. The company kept its “Overweight” rating on the stock and its $750 price target.
So after a stellar year so far, what upcoming news will affect Apple Inc. (NASDAQ:AAPL) stock? There’s a few things on the calendar and first up is the company’s June 11 to June 15 annual World Wide Developers Conference (WWDC). Barclays plans to keep their ears open during this event, beginning with the keynote speech on June 11 at 1 p.m ET.
Carlson Capital's Black Diamond Arbitrage Partners fund added 1.3% net fees in the first quarter of 2021, according to a copy of the firm's March 2021 investor update, which ValueWalk has been able to review. Q1 2021 hedge fund letters, conferences and more At the end of the quarter, merger arbitrage investments represented 89% of Read More
World Wide Developers Conference
So what kind of information is expected to be gleaned from this event? New products and developments around the Apple Ecosystem are going to be hot topics according to the research report, especially in the conversations from the developers about the products they are creating on the Apple platforms.
This has been done in the past and is usually seen as a leading indicator for sales in different products such as Apple’s iPads and iPhones.
Macs to Drive Sales
After seeing some weakness from Macs in the second fiscal quarter and iPad “cannibalization” wrote Barclays, look for a quarter over quarter rebound in September after a tame June quarter from product transition.
In the summer–probably late summer–the release of the new OS X Mountain Lion software and new Macs will help computer sales. Barclays estimates sale growth in Mac Units of 11.9 percent quarter or quarter for the fiscal quarter four and year over year, 14.9 percent for fiscal year 2012.
Entering the fall, Barclays believes Apple will price its MacBook Airs “to move” along with appealing back to school promotions come the September quarter.
But again, what will take Apple to the next level is innovation, new software, additional NAND options and more appealing pricing, wrote Barclays. If you add in all these factors, there is the potential to double the run rate sales of portables at Apple within a few quarters.
Once again, it looks like more products and innovation from Apple.