Confidence on Apple Inc. (NASDAQ:AAPL) stock has been growing up in the wake of the company unveiling larger-screened iPhones complimented by slimmer and faster iPads. There have been concerns that with the fading of the hype behind iPhone 6, the stock could plummet in the market suggestions Andrew Uerkwitz vehemently opposes. During an interview on CNBC, Uerkwitz reiterated that the penetration level for iPhone 6 will deepen going forward awaiting a new refresh cycle probably in 2015.
“I think this got a lot of legs, we think the penetration is trying to go very deep. They will get share gains against Android in the higher end well into 2015-2016. We really think that this smartphone markets no longer compete on features it is all on ecosystem,” said Mr. Uerkwitz.
Uerkwitz remains confident that Apple Inc. (NASDAQ:AAPL) will continue to gain market share at the back of an easy to use interface while also offering one of the best platforms for sharing across products. The company’s presence in the mobile ecosystem will continue to grow especially with the unveiling of Apple Pay, which looks set to be a household name in the near future.
The analyst has a buy rating on Apple Inc. (NASDAQ:AAPL), arguing that Apple Pay will act as a powerful marketing tool in 2015 with a significant impact on total smartphone sales.
“I think people are underestimating the ability that Apple will sell their product to the next big cycle. […] The gap between the 6 and the 5S is very wide as we enter the next product cycle in the fall that gap will shrink between the 6 and the 5S,” said Mr. Uerkwitz.
Apple is destined to shine even brighter this holiday season given the lack of innovation shown by competitors amidst a backdrop in spending in the U.S.
The bullish sentiment by Uerkwitz comes in the wake of Billionaire activist investor Carl Icahn remaining firm on his sentiments that Apple Inc. (NASDAQ:AAPL) stock is undervalued. The stock has enjoyed an impressive run this year rising to an all-time high of $119 a share consequently earning the $702 billion market valuation.
Free Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.