Analyst Bets On Apple Watch's X Redesign: 'Will Add Material Value'
Portfolio Pulse from Benzinga Neuro
Evercore ISI analyst Amit Daryanani has expressed optimism about the upcoming redesign of the Apple Watch, stating that it will add significant value to the series. The new design, part of the Series X lineup, is expected to include a slimmer case, revamped band attachments, and blood-pressure monitoring technology. Daryanani, who has a bullish outlook on Apple with a $210 price target, believes the redesign will attract both existing users and those currently using competitor models.
August 16, 2023 | 9:49 am
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POSITIVE IMPACT
The upcoming redesign of the Apple Watch is expected to add significant value to the product line, potentially attracting new users and prompting upgrades from existing users. This could have a positive impact on Apple's stock.
The Apple Watch is a significant product for Apple, contributing $8.28 billion to the company's $81.8 billion total revenue in the third quarter. The upcoming redesign, which includes new features such as blood-pressure monitoring, could attract new users and prompt existing users to upgrade. This increased demand could boost Apple's revenue and, in turn, its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100