'Not a game changer': what Wall Street is saying about iPhone 7 and Apple's other big launches (AAPL, FIT, GRMN, CRUS, 3008.TW, 6269.TW)

Apple didn't give Wall Street analysts many surprises at its iPhone 7 and 7 Plus launch on Wednesday.

The phones' features, particularly the removal of the traditional earphone jack in place of wireless AirPods, had been leaked and widely covered before the unveiling.

Apple also launched the Apple Watch Series 2, which includes built-in GPS and faster processors. 

Still, several analysts who cover the company had various reasons for why there could be strong demand for upgrades, and users won't wait for the iPhone 8 next year that's expected to get a design overhaul.

Here's some of the commentary:

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"We continue to expect a solid product cycle from the iPhone 7, based on strong upgrades driven by growth in the installed base and pent­-up demand after the weaker iPhone 6s cycle": Simona Jankowski, Goldman

"We maintain our Buy rating and 12-­month $124 price target ... the primary risks are product cycle execution, end demand, and a slower pace of innovation," Jankowski said. 

"In general, there were few surprises as the highly anticipated event is well-previewed by various media outlets": Tavis McCourt and Mike Koban, Raymond James

Given low expectations from investors, the analysts believe that wireless audio and the improved camera will convince many people that the upgrade rate should be better compared to the iPhone 6S. 

"Higher pricing for iPhone 7 Plus and launch of AirPods a slight positive": Jim Suva, Citi

Investors will view Apple's AirPods, priced at $159, as a positive "given the higher anticipated gross margins on the iPhone 7 Plus and wireless accessories ..."

 

See the rest of the story at Business Insider

Contributer : Tech http://ift.tt/2cInF8g

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