Apple Inc. (NASDAQ:AAPL) failed to rally in the market as many people would have loved on the unleashing further details regarding Apple Watch. The stock was upbeat on the announcement of the upcoming MacBook and operating software but failed to sustain itself as soon as talk about Apple Watch hit the airwaves. Despite the small pull back, Fox Business, Charles Payne, believes Apple is still a $200 stock. Based on other positives working on it ranging from the opening of new stores in China to the signing of a streaming deal with HBO for Apple TV.
The success or failure of Apple Watch is meaningless to Apple Inc. (NASDAQ:AAPL) stock according to Belpointe Asset Management Chief Strategist, David Nelson, who maintains the ecosystem being built should be of more importance going forward. Penn Financial Group founder, Matt McCall, on the other hand, believes people are underestimating the potential of Apple Watch in driving the stock even higher going forward.
“This watch is going to be enormous for this company. It is going to be a game changer in the next five years, and it is all about health. The research kit they are coming out with, you are going to be able to test all of it. [..] It is going to save lives and this is a big game changer for me,” said Mr. McCall.
The pull back in the market came on news that Apple Watch will have battery life of 18 hours compared to 24 hours that many people were expecting. The price action should not be of any concern to long-term investors according to Payne at the back of a wave of deals and new products that the company is poised to unveil going forward.
The sealing of the HBO deal comes on the heels of the announcement that more than 120 million people visited newly opened Apple store in China. Apple has already shipped 25 million Apple TV units a clear indication that the company is on the right track in terms of offerings.
Apple Inc. (NASDAQ:AAPL) is building an ecosystem with the Apple Watch that should take time to be a success just like other products. However, how long it will take to hit the highs with Apple Watch just like other hardware’s remains the million dollar question.
“I think this company is doing incredibly well for being the biggest company on earth. It is not that expensive on a valuation metrics so I am not bearish Apple,” said, Steve Cortes, Veracruz TJM Founder
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