With the Apple Watch ban temporarily on hold while the International Trade Commission reconsiders Apple’s (NASDAQ:AAPL) redesigned Apple Watch, Apple is working on a plan B that might render its fix largely unnecessary. The move was modestly well-received, with Apple shares up fractionally in the closing minutes of Thursday’s trading session.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Apple’s plan for the Apple Watch in the long term is a software fix. The specifics aren’t immediately clear, but if the software matter does the job Apple hopes it will, it will render the whole conversation moot as the Apple Watch will no longer infringe on Masimo’s patents. A decision on whether or not the International Trade Commission agrees with that, however, won’t be available until January 12, reports note. With the ban largely stayed, the watch can still be purchased, although once current supplies finally run out, they’ll be out for good unless the ban actually gets lifted.
A Greater Plan in Play?
Apple is working on a couple different plans here to get its Apple Watch models back into stores and able to be imported once more, and there may be a larger reason for that. A report from Apple Insider revealed that some already believe Apple is looking to use the Masimo case as a way to demonstrate to so-called “patent trolls” that they can go to court and get a full ban on products but never actually get a settlement out of it. That might, ultimately, reduce the amount of patent troll activity in the market since it depends on companies being willing to settle quickly.
What is the Future Price of Apple Stock?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 23 Buys and eight Holds assigned in the past three months, as indicated by the graphic below. After a 50.22% rally in its share price over the past year, the average AAPL price target of $203.07 per share implies 4.92% upside potential.
