Shares of Apple Inc. jumped Thursday, enough to lift the technology giant back into first place on the list of most valuable U.S. companies, after Needham analyst Laura Martin’s upgraded the company ahead of next week’s “Apple Special Event.”
Martin said in valuing Apple, she believes the best question to answer is whether Apple is a product company or an ecosystem company. Many on Wall Street might think Apple is a product company, given that 62% of its fiscal first-quarter revenue came from iPhones, but Martin said her proprietary survey indicates users believe it is an ecosystem company.
She said the new streaming-video content service Apple is expected to announce should lower churn and drive higher lifetime value for each of the company’s 900 million unique ecosystem users, and could attract new users as well.For Needham, a strong buy rating is used when a stock is expected to outperform the average total return of the broader stock market, as well as the other stocks the analyst covers, over the next 12 months.
While Apple’s long-awaited unveiling of a streaming video service is a “pivotal” step in driving its services business, he believes it is only a prelude to an even bigger news event.
Source: News Formal (newsformal.com)
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