A Nasdaq-100 exchange traded fund was poised to reverse at least some of the previous session’s losses on Tuesday along with top component Apple (NasdaqGS: AAPL) as analysts continued to react to new products unveiled at the company’s annual developers conference.
“As expected, the keynote focused on software and cloud services with mostly me-too capabilities announced,” said Jefferies analysts led by Peter Misek in a note Tuesday. “We expect this to be Apple’s first round of cloud service announcements with round two in the Fall (likely focused on video) and round three in 2012.”
Apple CEO Steve Jobs spoke about the company’s new products as the conference kicked off Monday, including iCloud, an online storage service.
“We think this product suite will bring more consumers to Apple’s family of products by making all of Apple’s products ‘stickier.’ Once information is populated in the cloud and shared across devices, consumers will be more willing to purchase incremental Apple devices and reluctant to move away from Apple devices,” BMO Capital Markets said in a report. “We expect Apple to continue to expand iCloud with features and functionality over time.”
Separately, Deutsche Bank analysts said the highlight of Monday’s show “was iCloud which allows Apple devices (iPhone, iPad and iTouch) to store/share content and wirelessly pushes it across devices,” according to a research note.
“iCloud is free which will drive broad adoption … and the beta software is available immediately (consumer availability expected this Fall),” they added. “We believe iCloud will greatly increase the stickiness of the Apple platform, particularly for multi-device iPad/iPhone/Mac owners, and further differentiate the Apple platform in terms of scale and size.”