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.
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.
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.
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.
Apple says iOS 16.4 is coming in the spring, which began this week. In his Sunday newsletter, Bloomberg's Mark Gurman said the update should be released "in the next three weeks or so," meaning a public release is likely in late March or early April.
iOS 16.4 remains in beta testing and introduces a handful of new features and changes for the iPhone. Below, we have recapped five new features ...
As previously rumored, the next-generation iPhone 15 Pro and iPhone 15 Pro Max will feature a unified volume button and a mute button, according to leaked CAD images shared in a video on the Chinese version of TikTok and posted to Twitter by ShrimpApplePro.
Instead of separate buttons for volume up and volume down, the iPhone 15 Pro models are expected to have a single elongated button for...
Tuesday March 21, 2023 11:01 am PDT by Juli Clover
The iOS 16.4 update that is set to be released to the public in the near future includes voice isolation for cellular calls, according to notes that Apple shared today.
Apple says that Voice Isolation will prioritize your voice and block out the ambient noise around you, making for clearer phone calls where you can better hear the person you're chatting with and vice versa.
Voice...
Tuesday March 21, 2023 11:43 am PDT by Juli Clover
The iOS 16.4 release candidate version that was provided to developers today appears to hint at a new set of AirPods that could be coming in the near future. According to @aaronp613, the beta features references to AirPods that have a model number of A3048 and an AirPods case with a model number of A2968.
There have been no rumors that new AirPods are on the horizon, and it is early for...
Wednesday March 22, 2023 9:48 am PDT by Juli Clover
Nothing today announced the launch of its second-generation wireless earbuds, the Nothing Ear (2), which offer many of the same features as Apple's AirPods Pro 2 at a lower price point. We went hands-on with the Ear (2) earbuds to see whether they're a viable alternative to the AirPods Pro 2 for those who want to save some cash.
The Ear (2) earbuds are the successor to the Nothing Ear (1),...
Tuesday March 21, 2023 10:25 am PDT by Juli Clover
Apple today seeded the release candidate versions of upcoming iOS 16.4 and iPadOS 16.4 updates to developers for testing purposes, with the software coming a week after the launch of the fourth betas. The RCs mark the final version of the software that will be provided to the public in the near future. Registered developers are able to download the iOS 16.4 and iPadOS 16.4 updates...
Thursday March 23, 2023 3:41 am PDT by Tim Hardwick
Apple is tracking the attendance of its employees at offices using badge records in order to ensure they are coming in at least three times a week, according to Platformer's Zoë Schiffer.
Since April 2022, Apple employees have been operating on a hybrid home/office work policy as part of a gradual return strategy following the pandemic, with staff required to work from the office at least...
Thursday March 23, 2023 6:42 am PDT by Joe Rossignol
While the iPhone 15 series is still around six months away from launching, there have already been plenty of rumors about the devices. Many new features and changes have been rumored for the iPhone 15 Pro and iPhone 15 Pro Max in particular.
Below, we have recapped 10 changes rumored for iPhone 15 Pro models that are not expected to be available on the standard iPhone 15 and iPhone 15 Plus:A1...
Apple on January 23 released iOS 16.3, delivering support for Security Keys for Apple IDs, changes to Emergency SOS functionality, support for the second-generation HomePod, and more.
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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.
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.