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Apple Sales Won’t Improve Until New Hardware is Released, Wall Street Says

by Jacob Kleinman | June 11, 2013June 11, 2013 7:00 pm PDT

WWDC 2013 - Conclusion - 006

Apple captured the world’s attention on Monday during WWDC 2013 when it announced major updates to its mobile (iOS 7) and desktop (OS X 10.9 Mavericks) operating systems, but sales won’t pick up until its next generation of smartphones and tablets hit the market this fall, writes J.P Morgan analyst Mark Moskowitz in an investors note released after the event.

Moskowitz argues that Apple’s investors were likely unmoved by the latest round of updates to the company’s software, as well as announcements of the refreshed MacBook Airs and a redesigned Mac Pro. While these new products definitely appeal to certain consumers, they won’t drive up Apple’s stock the same way a new iPhone or iPad can.

“We do not expect investors to cheer the latest software and services rollouts at Apple’s WWDC 2013,” Moskowitz said. “The tech improvements appear to be suitably impressive, but we do not expect them to move the needle in the model in the near to mid term.”

Apple has laid the groundwork for a massive sales push with the introduction of iOS 7. If the company can deliver all that’s expected of it this fall (the iPhone 5S, a budget-friendly iPhone, and a Retina Display iPad Mini) then investors will likely see the growth they’ve been hoping for.

CNET

Jacob Kleinman

Jacob Kleinman has been working as a journalist online and in print since he arrived at Wesleyan University in 2007. After graduating, he took a...

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