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

Apple Watch And Apple Car

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.”

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!

For exclusive info on hedge funds and the latest news from value investing world at only a few dollars a month check out ValueWalk Premium right here.

Multiple people interested? Check out our new corporate plan right here (We are currently offering a major discount)






About the Author

TipRanks
TipRanks was founded in 2012 with the goal of giving power back to the individual investor. Our hope is that by making analyst performance data easily available and highly visible to the investing public, TipRanks will not just help save others from our investing mistakes, but will also bring back accountability, objectivity, and transparency to the business of stock picking and analyst reports. TipRanks is proudly unaffiliated with any investment firm.

Be the first to comment on "Analysts Weigh In On Apple Inc. Amidst Apple Watch And Apple Car News"

Leave a comment