Apple Customers Remain Loyal To iPhone, Feel Vision Pro Is Too Pricey
Portfolio Pulse from Neil Dennis
Bank of America maintains a Buy rating on Apple Inc. (NASDAQ:AAPL), highlighting customer loyalty to the iPhone and potential high uptake of upcoming models and the Vision Pro VR headset. Despite the enthusiasm, the $3,499 price tag for the Vision Pro is seen as too high by many, with a survey indicating a preferred price point of $2,090. Apple's installed base of active devices has surpassed 2.2 billion, reaching a record high, and its services division reported all-time high revenues. Apple shares were up 0.7% at $181.29 in midday trade on Wednesday.
February 28, 2024 | 6:42 pm
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Bank of America maintains a Buy rating on Apple, with strong customer loyalty and high anticipation for new iPhone models and the Vision Pro VR headset. However, the high price of the Vision Pro may limit its immediate uptake. Apple's active devices and services revenue have reached record highs, indicating strong company performance.
The positive outlook from Bank of America, combined with Apple's record high in active devices and services revenue, suggests a strong performance outlook for Apple. The high price of the Vision Pro may temper some enthusiasm, but the overall strong brand loyalty and anticipation for new products are likely to support the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100