Analyst: Apple Shouldn’t Sweat Any News Out of Google I/O

Analyst Apple Shouldn't Sweat Any News Out of Google IOLast night, Google wrapped up its 7th annual developers conference – the 2014 installment of Google I/O.

Although Google rolled out a wide array of product and service-related news, Apple has nothing to fear.

At least, that’s the stated opinion of analyst Timothy Arcuri of Cowen and Company. In a note to investors obtained by Apple Insider, Arcuri makes his case for why Apple shouldn’t sweat the competition.

With OS X Yosemite and iOS 8 set to launch this fall, a new programming language for developers called Swift, high hopes for this year’s anticipated “iPhone 6,” and rumors of a forthcoming “iWatch” launch, Arcuri remains bullish on AAPL stock with a price target of $102.

“We expect Apple’s ecosystem to remain the dominant platform for developers for the foreseeable future,” Arcuri added.

In short, nothing was unveiled at Google I/O that should put pressure on Apple to proceed with a “must catch up to Google” urgency as 2014 progresses.

“All in all we felt the seamless integration was the main new feature [announced by Google this week], but we question just how useful this will be given very few people are using Google laptops and tablets,” Rod Hall of J.P. Morgan is quoted in the same report.

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