Cowen upgrades Apple to ‘outperform,’ envisions OLED iPhones with new form factors – Apple Insider


Cowen and Firm upgraded its attitude regard AAPL stock to “outperform” regard Wednesday along with a $135 rate target, telling investors it thinks Apple will certainly go back to development along with this fall’s “iPhone 7” and beyond.

Analyst Timothy Arcuri and his group have actually been regard the sidelines along with Apple since mid-2015. However this week, they ended up being buyers when again, citing the anticipated September debut of a next-generation iPhone.

Even if the “iPhone 7” is just “evolutionary,” Arcuri thinks Apple might reward from iPhone 6 and iPhone 6 Plus buyers that might be prepared to upgrade their two-year-aged phones.

Arcuri was likewise encouraged by this week’s rumor that Apple is functioning regard a new iPhone design along with a 5.8-inch AMOLED display that might show up as quickly as 2017. To him, embracing OLED in 2017 might solve “development concerns” when it come to Apple, and likewise permit the Firm to make iPhones along with brand-new type factors, such as edge-to-edge displays.

“Bend OLED provides AAPL a essential brand-new extent of freedom regard product design, while ’17 adoption offers a ‘bridge’ to a brand-new cycle of innovation that need to accelerate in ’18 and beyond,” Arcuri wrote.

Finally, he likewise noted that shares of AAPL still trade at concerning a 25 percent discount as soon as compared to large-cap technology peers, and a 30 percent discount as soon as contrasted along with the S&P 500. The latest valuation, to him, offers a “durable backstop” when it come to the company, which he thinks need to offer investors the self-confidence to get in.

Subscribe to receive free email updates:

0 Response to "Cowen upgrades Apple to ‘outperform,’ envisions OLED iPhones with new form factors – Apple Insider"