Apple’s (AAPL) subsidiary Beats has introduced a new pair of Studio Buds wireless earphones to its Beats headphones line.
The new product, which has up to 24 hours of battery life, offers enhanced audio features like active noise cancellation (ANC), IPX4 water resistance, sweat resistance, and USB-C charging.
Notably, the Beats Studio Buds will support both iOS and Android devices.
Priced at $149.99, the earbud is available for order in three colors from apple.com in the US and Canada. Shipping will begin on June 24.
Apple Music and Beats Vice President Oliver Schusser said, “In building a product this small, every minute detail was considered, analyzed and selected to optimize for sound quality, comfort and durability.” (See Apple stock analysis on TipRanks)
Schusser further added, “Studio Buds is our tiniest, most subtle form factor to date, yet keeps Beats’ promise of delivering an immersive sound experience in a beautiful design.”
On June 8, Monness analyst Brian White reiterated a Buy rating and a price target of $180 (38% upside potential).
White commented, “We believe the successful creation of a strong services business has provided the market with more confidence in the company’s long-term business model.”
He further added, “Apple has continued to expand its product portfolio and work on a pipeline of new innovations. Finally, this COVID-19 crisis has created havoc across multiple industries, resulting in an uncertain future, creating a greater allure for large, well-managed, tech companies with strong balance sheets that benefit from digital transformation, such as Apple.”
The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 21 Buys, 4 Holds, and 2 Sells. The AAPL average analyst price target of $159.48 implies 22.2% upside potential from current levels. Shares have increased 52.2% over the past year.
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