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Apple Inc.

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Apple unveiled the much-awaited iPhone 7 and iPhone 7 Plus at its September keynote event. We expect the company to benefit from the upgrade cycle, following the launch, even in mature markets. This is expected to boost sluggish iPhone sales. In addition, the event also saw the launch of a new version of Apple Watch. The company also provided updates on Apple Music, App Store and Apple Watch in addition to the software upgrades. Apple remains optimistic about growth in regions like India and a decent rebound in China. A loyal customer base and a strong ecosystem are the other positives.  However, in the near term, macroeconomic headwinds in some key regions amid increasing competition remain a concern. Also, the company is embroiled in tax issues for its Ireland operations, which remains an overhang on its financials.

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