Innovation Lives On at Apple

We like what we saw out of

The iPhone 6s will have its usual “s-series” upgrades from the prior year’s model, such as improved processors and cameras with Ultra HD video capabilities. New features like Live Photos and 3D Touch appear compelling, but perhaps not as exciting as upgrades like TouchID as in years past. Nonetheless, we still foresee iPhone growth in fiscal 2016 as the two big drivers of last year’s growth—demand for large-screen iPhones and expanded distribution with China Mobile—continue on. The health of China’s true economy remains the biggest risk to Apple’s near-term growth, in our view.

We view the iPad Pro as focusing on the enterprise and serving niche audiences, all while protecting its premium tablet leadership position and cutting off areas of differentiation from competitors like Microsoft. We found Apple’s revised TV and tvOS to be its most interesting product, as the company strives to develop a one-stop platform for home content viewing (movies, TV, streaming video, gaming).