Ahead of WWDC, Goldman Analyst Bullish on Apple Stock

As $Apple(AAPL.US)$ gears up for the Worldwide Developers Conference, or WWDC (set to begin on June 5), Goldman Sachs analyst Mike Ng expects the company to provide OS (operating system) updates. In addition, Mike believes that Apple will unveil new MacBooks and a mixed-reality headset. The analyst is bullish about AAPL stock, while his price target of $209 implies 19.1% upside potential from current levels.
In a note dated May 22, Mike Ng said that Apple may announce updates to its OS, including security, performance, and product improvements. However, the analyst is not expecting any “transformative updates” that would drive market share gains and “catalyze outsized upgrade demand.”
In addition, the analyst expects Apple to introduce a number of new MacBooks, including a 15” MacBook Air. Further, the company could also divulge information about its mixed-reality headset.
Commenting on the updates and products, Mike NG said that AAPL’s new OS improvements would strengthen its ecosystem and reduce installed base churn. Further, the new MacBooks could “catalyze an upgrade cycle” with improved PC demand.
In terms of headgear, analysts stated that the AR (Augmented Reality)/VR (Virtual Reality) industry has been disappointing. However, he believes that Apple has the potential to succeed in that space given its large installed base of billions of devices and established developer ecosystem.