TD Ameritrade Chief Strategist Discusses Apple's Presentation, Notes Long-Term Excitement Over Airstrip

• Shares of Apple AAPL were enjoying a post-event boost on Thursday.
• TD Ameritrade's Chief Strategist JJ Kinahan said that Airstrip potential is "great."
• Kinahan noted the Apple Pencil offers a degree of differentiation in a "pretty crowded space."

Speaking to Benzinga, TD Ameritrade's Chief Strategist JJ Kinahan discussed Apple Inc. AAPL's presentation in which the company introduced both new and updated products and services. Kinahan pointed out that in typical Apple fashion, the stock initially declines, only to stage a rally. The investment pro attributed the typical post-presentation rally to the fact that "its Apple and people think Apple is cool." Kinahan added that Apple's presentation focused less on the Apple TV than some had expected but nevertheless this was the right move as the product is a "very very small percentage" of total revenue. Moving on to the newly introduced Apple Pencil, consumers and the investment community will debate if the product will drive incremental iPad sales. Kinahan pointed out that the product does offer a certain degree of differentiation in the "pretty crowded space." Finally, the Watch's Airstrip may mark Apple's official entry to the health and wellness space, and potentially compete against Fitbit Inc FIT. According to Kinahan, over the longer-term, Apple's new health and wellness products and services could boost iPhone sales, but a short-term boost to sales is not as clear. "The potential is great, obviously, but it's a ‘to-be-seen' but provides near term excitement," he concluded.