Apple’s (AAPL) iOS Revamp Positive for the Stock: Goldman Sachs

Analysts for Goldman Sachs (GS) said in a research note yesterday that Apple‘s (AAPL) re-designing of its operating system, which is the biggest since the original iPhone was introduced in 2007, “could be the most significant development for the long-term story [of the company].”

Bill Shope and other Goldman analysts said they were “encouraged with the refresh [which Apple plans to release in the fall] and…believe the overall event should be seen as a modest positive for the stock.”

Apple announced its latest iOS mobile operating system, designated iOS 7, at its 24th annual developers’ conference in San Francisco on Monday, along with a new music streaming service. During the event Apple also introduced a new version of its Mac OS X called ‘Mavericks,’ aimed at delivering a tighter integration with iPhones and iPads.

Goldman’s analysts maintained their ‘Buy’ rating on Apple’s stock and a $500 price target. The firm noted however, that its needs “to see positive earnings momentum from Apple’s next series of iOS hardware launches in the fall for the stock to begin its full recovery; we remain optimistic on this front.”

Apple shares have declined 37 percent after touching an all time high of $705 in September.

via MarketWatch

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