Sterne Agee Comments On Apple Announcements

According to Sterne Agee, Apple AAPL unveiled new versions of software and services for its iOS and Mac OS X platforms. Sterne Agee said that while some investor focus will be on this as a one-day catalyst, we believe these announcements have longer-term ramifications. “Like Steve Jobs said, software is the “soul” of its products while hardware is the “brains.” We believe its software “soul” is what differentiates AAPL and it just became much harder to replicate and/or beat.” Apple closed yesterday at $338.04.