Apple's 9.7 Inch iPad at $329 Adds to iOS Stickiness and May Spur Upgrades; Maintain $138 FVE
We will maintain our $138 fair value estimate and narrow moat rating for Apple as the firm issued a press release announcing a refresh to its 9.7-inch iPad lineup, with aggressive pricing starting at $329, versus $499 in years past. We estimate that any rise in iPad revenue from higher unit sales will be mostly offset by lower prices and gross margins earned per iPad, thanks to the price cut. With Apple continuing to trade near all-time highs, we still view shares as fully valued.We see two asp...
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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