Apple (AAPL) Event Offers No Surprises, Perform Reiterated at Oppenheimer

Oppenheimer analyst Andrew Uerkwitz reiterated a Perform rating and {REMOVEPT} price target on Apple (NASDAQ: AAPL) after Apple introduced a new Apple Watch (Series 5), new iPad (7th gen), and three new iPhones (iPhone 11, iPhone Pro, iPhone Pro Max) at its September Special Event. The company also announced pricing and launch dates for its new subscription services, Apple Arcade (9/19 launch date), and Apple TV+ (11/1 launch date).

The analyst stated "We saw no surprise at today's event. New Apple Watch Series 5 boosts company's dominance in consumer smart watch category. New iPhones try to appeal to users by going back to the basics: lower price, more computing power, and better cameras. While Apple Arcade and Apple TV+ pricing seem competitive, their relative value and user retention potential are dubious at best when compared to competing service offerings".

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $216.62 yesterday.

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