“Apple Inc. shares have appreciated 5.25 percent year-to-date, although they dipped to a low of $103.12 on August 24,” Jim Swanson reports for Benzinga. “Citi’s Jim Suva has reiterated a Buy rating on the company, with a price target of $145.”
Swanson reports, “Analyst Jim Suva expects 2016 to be a year when the company ‘pulls together the fabric of this ecosystem,’ expanding its TAM through hardware, software, healthcare, fitness and even financial services through Apply Cloud, Apple Watch, Apply Pay, Apple TV, and possibly an Apple Car in a few years.”
“The next catalyst for the stock is likely to be investor focus on the iPhone 7, which is expected to be launched in September 2016,” Swanson reports. “The iPhone accounts for over 70 percent of Apple’s gross margin and therefore stock sentiment.”
Read more in the full article here.
MacDailyNews Take: iPhone 7, yes, but do not underestimate the power of Apple Watch 2, either.
We would love to see Apple launch Apple Smartbands that add sensor and other functionality to Apple Watch. An Apple GPS Smartband and an Apple Battery Smartband, right now, would sell like wildfire. It’s a missed opportunity for the original Apple Watch’s first Christmas, but we hope to see such items in 2016.
Apple Macs have a huge amount of headroom in the PC market, iPad in the tablet market, and Apple’s Internet TV plan for Apple TV (not to mention a 4K-capable Apple TV 5) are also likely to finally come together in 2016, too. Apple future remains exceedingly bright!