Apple Inc (NASDAQ:AAPL) has released watchOS 4.0.1 to Apple Watch Series 3, which fixes the bug that caused difficulty in connecting to LTE networks.
The bug had caused Apple Watch to join unauthenticated Wi-Fi networks, thus preventing it from connecting to cellular networks. A fortnight ago, upon its launch, the device was lambasted by several prominent reviewers for its repeated failure to connect to LTE. Apple had touted the built-in cellular as the USP of the Watch, which costs $399.
Apple has assured that the bug has now been fixed. The company is also beta testing WatchOS 4.1. The new OS will likely be released later this year, per media reports.
Apple Watch was launched in April 2015. Since then, the company has been one of the leading players in the wearables market. Apple Watch sales were up 50% in the third quarter of fiscal 2017. Though a small fraction of its top line as of now, Watch is Apple’s effort to reduce dependence on iPhone. IPhone sales constitute the major chunk of Apple’s revenues.
Apple Inc. Price
Apple Watch OS 3 was said to be the “ultimate expression of Apple Watch” by the company’s chief financial officer, Jeff Williams at the iPhone X event held last month. Powered by a new dual core processor, which is 70% faster than its predecessor, users can call, text as well as access GPS and third party applications like WeChat. Also, with integrated cellular and Apple Music, 40 million songs are available for streaming on your wrist, added Williams.
Zacks Rank and Share Price Movement
At present, Apple carries a Zacks Rank #3 (Hold). Notably, the company has outperformed the industry in the past year. Shares of Apple have surged 35.8% compared with the industry’s 34.5% increase.
Stocks to Consider
Top-ranked stocks in the broader technology sector include NVIDIA Corporation (NASDAQ:NVDA) Applied Materials (NASDAQ:AMAT) , and Jabil Inc (NYSE:JBL) . All sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for NVIDIA, Applied Materials and Jabil is currently projected to be 10.3%, 17.1% and 12%, respectively.
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Apple Inc. (AAPL): Free Stock Analysis Report
NVIDIA Corporation (NVDA): Free Stock Analysis Report
Applied Materials, Inc. (AMAT): Free Stock Analysis Report
Jabil Circuit, Inc. (JBL): Free Stock Analysis Report
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