iPhone 6 Survey Shows That Apple Is Not the Only Big Tech Winner
One solid way to get information on Wall Street is to go the old school route and take a survey. The good thing about surveys in general is the average consumer is more prone to give an actual representation of their thoughts rather than preconceived notions. The hugely popular and successful iPhone 6 and 6 Plus launch created multiple winners, and investors can still cash in.
In an exhaustive research effort, the analysts at Cowen used their comprehensive iPhone 6 survey data and applied it to numerous stocks in the firm’s research universe. We have screened through the data and present a quick-hit look at the companies benefiting from the colossal success of the iPhone 6 and other Apple products.
Apple Inc. (NASDAQ: AAPL) is obviously the biggest winner. With the combination of solid core product sales, conservative Wall Street estimates and strong revenues and margin growth, the stock is rated Outperform and Cowen raises the price target from $115 to $135. The Thomson/First Call consensus price target is at $140.02. Shares closed on Monday at $127.21.
eBay Inc. (NASDAQ: EBAY) is the big winner in the digital/mobile payment market place with PayPal being the most used, with 57% of the total mobile apps and 85% of those in the United States. Cowen rates the stock at Market Perform with a $57 price target. The consensus target is $59.50. eBay closed Monday at $58.62.
Google Inc. (NASDAQ: GOOGL) is considered completely trustworthy by survey respondents, and this can be huge in the digital-pay era. With Google Wallet one of the top mobile apps, with 31% being used, the Cowen team expects the company to increase in usage outside the United States over time as mobile payment technologies improve. The huge Android user base is a big plus for the search giant. The stock is rated Outperform with a $681 price target. The consensus target is at $645. Shares closed Monday at $57.45.
Synaptics Inc. (NASDAQ: SYNA) is considered one of the pioneers and leader of the human interface revolution, which provides innovative and intuitive user experiences to intelligent devices. Apple has a captive fingerprint solution that Synaptics provides, and the Cowen team sees the company well-positioned to serve the market for other platforms as well. The stock is rated Outperform with a $105 price target. The consensus stands at $90.46. The stock closed Monday at $85.04.
Universal Display Corp. (NASDAQ: OLED) could get a boost in sentiment from Apple’s wearable devices. Cowen also expects Apple to start using the AMOLED displays for iPhone when a sufficient supply base is ready. Already a big supplier to Samsung, this could prove huge for Universal Display. The stock is rated Outperform, and Cowen raised the price target to $55. The consensus target is $46. The stock closed up nicely Monday at $46.81.
Clearly the Cowen team gleaned a ton of data from the 3,000 adults that took part in the survey. While Apple took market share during the iPhone 6 launch, the Cowen team indicated that there was a big buzz for the new Samsung Galaxy S6. This will keep the competition keen among vendors to the tech giants looking to provide newer and better technology.