Apple's Stock Has Already Bounced Back After Earnings Results Slightly Missed Expectations

Apple's stock has recovered from early week losses incurred after the company's earnings results fell slightly below Wall Street expectations.

aapl may 5 2017
Apple shares are currently trading for roughly $148, slightly above Tuesday's closing price of $147.51, set just before the company's earnings report. The stock had dropped to as low as $144.27 on Wednesday, but Apple has bounced back since alongside an overall rise in the S&P 500 index today.

Wall Street remains bullish on Apple heading into the second half of the year, as most analysts think the so-called "iPhone 8" with an OLED display and wireless charging will be a hit among customers. There's also a larger than usual "supercycle" of customers with older iPhone models due to upgrade.

MacRumors obtained research notes from 19 analysts tracking Apple, and 15 of them continue to rate the company's stock as a "buy" or equivalent following the company's second quarter earnings results. All but three analysts believe that Apple's stock price could rise to between $150 and $185.

aapl estimates may
Apple's stock has been steadily climbing in value since dropping to a 52-week low of $89.47 in 2016, when the iPhone maker reported its first decline in annual revenue since 2001, and its first drop in iPhone sales ever.

AAPL touched $148.20 in intraday trading this morning, a new all-time high. The stock is on pace to top Tuesday's record close of $147.51.

Tag: AAPL

Popular Stories

maxresdefault

Report: These 10 New AI Features Are Coming in iOS 18

Sunday May 26, 2024 12:57 pm PDT by
iOS 18 and macOS 15 will offer an array of new AI features such as auto-generated emojis, suggested replies to emails and messages, and more, Bloomberg's Mark Gurman reports. Subscribe to the MacRumors YouTube channel for more videos. A significant portion of Apple's Worldwide Developers Conference (WWDC) is expected to focus on AI features. Writing his latest "Power On" newsletter, Gurman...
airpods pro 2 pink

Apple Releases New AirPods Pro 2 Firmware

Tuesday May 28, 2024 11:46 am PDT by
Apple today released new firmware update for both the Lightning and USB-C versions of the AirPods Pro 2. The new firmware is version 6F7, up from the 6B34 firmware released in November. Apple does not provide details on what features might be included in the refreshed firmware beyond "bug fixes and other improvements," so it is unclear what's new in the update. Apple does not give...
new best buy blue

Best Buy's Memorial Day Sale Has Record Low Prices on iPads, MacBooks, and Much More

Friday May 24, 2024 7:12 am PDT by
Best Buy today kicked off its Memorial Day weekend sale, and it has some of the best prices we've tracked in weeks on iPads and MacBooks. Specifically, you'll find record low prices on the 5th generation iPad Air, iPad mini 6, M2 MacBook Air, and M3 MacBook Pro. Note: MacRumors is an affiliate partner with Best Buy. When you click a link and make a purchase, we may receive a small payment,...
maxresdefault

Gurman: iOS 18 Will Allow Users to Recolor App Icons and Place Them Anywhere

Sunday May 26, 2024 12:22 pm PDT by
Apple's iOS 18 update will introduce new features for further customizing the iPhone's home screen, according to Bloomberg's Mark Gurman. Subscribe to the MacRumors YouTube channel for more videos. In the latest edition of his "Power On" newsletter, Gurman claimed that Apple will allow users to change the color of app icons in iOS 18. For example, "you can make all your social icons blue or...
iPad Pro Landscape Apple Logo Feature

Apple Says Future iPads Could Feature Landscape Apple Logo

Monday May 27, 2024 6:31 am PDT by
French website Numerama interviewed three senior Apple employees about the new iPad Pro models that launched earlier this month. While the discussion did not reveal many new details, it did mention one potential change for future iPads. While the Apple logo on the back of iPads is positioned so that it appears upright in vertical orientation, the devices are often used in landscape...

Top Rated Comments

MrX8503 Avatar
92 months ago
Wish I bought more when it was $90.
Score: 4 Votes (Like | Disagree)
djcerla Avatar
92 months ago
Will go much higher, barring catastrophic macro events.

Investors have rose-tinted glasses, as they see new catalysts of material growth in Services and wearables, and the iPhone 8 supercycle approaching.

Not to mention Warren Buffett speaking of Apple like a teenager in love, a very uncommon sight.
Score: 4 Votes (Like | Disagree)
MrX8503 Avatar
92 months ago
don't, you should be selling high, not buying
If only it were that easy.
Score: 2 Votes (Like | Disagree)
Kaibelf Avatar
92 months ago
Would love to see it at $185!

Not sure why some have a sell recommendation with a good PE ratio as Apple does?
Probably because they want some people to panic so they can buy it cheaper themselves.
Score: 2 Votes (Like | Disagree)
IJ Reilly Avatar
92 months ago
12/31/2017 results are going to be critical. 12/31 quarterly sales increased by about 10 million per year from 2007 to 2014 and pretty much plateaued after that at about 75 million phones sold. Apple is going to need substantial growth to maintain its valuation.

With Tim Cook publicly blaming the hype surrounding the iPhone 8 in delaying customers' purchases then he had better be confident those delayed sales will translate into higher than normal sales at the end of this year. Tim Cook should be praying sales exceed 90 million with a heavy bias toward the iPhone 8.
Have an idea praying has nothing to do with it.
Score: 2 Votes (Like | Disagree)
ApfelKuchen Avatar
92 months ago
That post-earnings call "drop" was pretty small to begin with, essentially wiping out just the previous couple of days' gains. It was amusing to watch the headlines in the financial press on Wednesday, blaming the Dow's (small) drop on Apple, even as Apple's price was recouping most of the overnight drop as the day wore on, closing around 0.5% down from Tuesday's close.

One might attribute the drop after Tuesday's close purely on program selling - investors who had determined to "sell on news" regardless of what the results might be.
Score: 2 Votes (Like | Disagree)