Apple stock has already recovered to its pre-coronavirus lockdown levels, but according to two investment firms much larger gains are on the horizon.
Speaking with CNBC, Todd Gordon, managing director at Ascent Wealth Partners, argued that Apple could be set to rally an additional 40% from its current share price. That would take Apple to $490 — or $135 above its $355 all-time high.
A jump in Apple’s share price in the past two days pushed it over a milestone: On Wednesday, Apple became the first U.S. company valued by investors at more than $1.5 trillion.
AAPL shares have been on the rise for months. Last week, the stock made up all of the COVID-19-induced losses incurred earlier in the year, then headed into record territory.
Updated: Apple shares closed at a new all-time high of $331.50 Friday as part of a broad market rally fueled by a strong jobs report. Apple stock has now made up all of its coronavirus-induced losses — and then some.
AAPL fell as low as $224.37 on March 23 as the coronavirus-related shutdowns wreaked havoc on the United States economy. Less than 10 days earlier, Apple had temporarily shuttered all of its stores around the world except for those in China. The company had also revised its earning guidance due to the effects of COVID-19.
Apple was the first public company in history to reach a $700 billion, $800 billion, $900 billion, and $1 trillion valuation. Could it also be the first company to hit the vaunted $2 trillion mark? And, if so, when will this happen?
In a research note to clients, Evercore ISI analyst Amit Daryanani argues that not only can Apple get to this mark, it can do so over the next four years. That would be just six years after it hit $1 trillion for the first time. Today, Apple is worth around $1.3 trillion.
Apple reports its fiscal second-quarter earnings results Thursday afternoon, and chances are good that Cupertino will be glad to see the first three months of 2020 fade into history.
Having said that, things might not be as bad as many expect due to the ongoing COVID-19 pandemic. Oh, there won’t be any record-breaking figures, but there are some pretty good indicators that the news won’t be all doom and gloom.
As is always the case, though, the devil will be in the details. Apple’s conference call after issuing its Q2 2020 earnings report will be even more interesting than the numbers themselves.
President Trump’s declaration of a national emergency provided some much-needed relief to Apple’s stock price just before the market closed this afternoon.
Apple shares jumped up over $20 in value during the last 30 minutes of trading today, just after President Trump announced that the U.S. government will free up $50 billion in federal resources to combat the COVID-19 outbreak.
Apple played a part in a historical and brutal day on Wall Street Thursday as fears and concerns over the coronavirus accelerate. The Dow 30 plummeted 10% in value as Apple stock lost almost the same.
Apple shares, like the broader stock market, are taking a coronavirus-induced plunge. But when is the right time to buy in order to secure yourself a bargain?
Not right now, claim analysts who spoke with CNBC. Although AAPL is currently down around $70 from its February high of $327.20, analysts think there’s further for it to fall.
At $1.3 trillion these days, Apple’s a pretty darn valuable company. But how much could you have netted had you been smart enough to invest in the company in December 1980 when the stock first went public?
Obviously that depends on how much you’d have invested in the Cupertino computer company, and how long you had the nerve to keep the stock. A new report by CashNetUSA ran the numbers for a $1,000 investment in 1980. And, well, you’d be pretty happy with the results.
It’s easy to forget just what a crazily big and successful company Apple actually is. Even a slight dip or swell in the company’s share price equates to tens of billions of dollars in real terms.
Case in point: As AAPL recovered slightly from the battering of coronavirus over the past two trading days, its market cap increased by $180 billion. As Above Avalon analyst Neil Cybart helpfully points out, that’s the equivalent of the entirety of Netflix. Or Nike and Spotify put together.
Coronavirus has hit Apple shares hard. Despite initially shrugging off the disruption of the outbreak, Apple is currently trading down more than 20% from its record record high.
That makes it one of the hardest hit stocks on the Dow Jones Industrial Average thanks to coronavirus.
While it’s a distant second to the human impact of coronavirus, the outbreak of COVID-19 coronavirus in China has caused plenty of disruption for Apple and its manufacturers.
But although Apple has already had to rein in its quarterly projections as a result, analysts watching the Cupertino firm aren’t getting unduly concerned. The majority of firms remain bullish when it comes to Apple’s prospects for near-term growth.
Apple could be a $2 trillion business by the end of 2021, bullish Apple analyst Dan Ives of Wedbush claims.
If so, this would be a massive leap from Apple’s current market cap of $1.38 trillion. And it would be all thanks to momentum in Apple’s Services division, alongside the impending launch of a 5G iPhone.
Tim Cook earned $125 million in Apple’s fiscal 2019, according to Apple’s latest SEC regulatory filings. That works out at more than $342,000 a day, or $28,538 per hour for a 12-hour shift.
But while Cook’s pay packet puts him firmly in 0.001 percenter territory as far as earnings go, it’s not a record year for him. In fact, Cook took home $11 million less than he did in 2018.
Apple shares hit an historic $300 milestone Thursday, representing a new overall all-time high. The amazing figure gives Apple a market cap of $1.3 trillion. That takes Apple a whole lot closer to the once crazy dream of being valued at a whopping $2 trillion.
New Year’s Resolutions for Tim Cook, anyone?
Apple in 2009 and 2019 are very different companies. In the past decade, we’ve seen the arrival of the iPad and the Apple Watch, while the iPhone has well and truly become ubiquitous worldwide. Meanwhile, former CEO and co-founder Steve Jobs sadly passed away, and Tim Cook took charge of the company.
But as different as some things are, others stay the same. Case in point: AAPL has had its best stock performance in 2019 since 2009.
Apple shares suffered their biggest decline since August on Tuesday, due to trade tensions between the United States and China.
President Trump told reporters that he had “no deadline” on agreeing a trade deal with China. Many people had hoped that a deal could be reached within weeks.
Apple is worth more than all large-cap US energy stocks put together, a new report for the Financial Times notes.
Apple’s current market cap is close to $1.2 trillion. That surpasses the value of the S&P 500 energy sector, valued at $1.12 trillion.
Apple stock may have risen fairly consistently through 2019, but that hasn’t been enough to stop Harvard dumping the stock.
Harvard Management Company, the Harvard-owned investment company which is the largest academic endowment in the world, has sold all of its Apple stock. At the end of the second quarter of 2019, it owned more than $100 million of AAPL.
Apple stock is hitting its highest value in history — and could be poised to surge a whole lot higher.
After analysts at Raymond James raised their price target to $280, AAPL rose 2% to start the week strongly. It is currently trading at $240.51. However, Piper Jaffray chief market technician Craig Johnson thinks it could well rocket past $300.
Apple has hit a new all-time high valuation as shares rose 1.7% to hit $234.09. That gives Apple a market cap of $1.058 trillion. Talk about valuable!
It comes as investors expected top level trade talks between the US and China to result in a partial deal. At the very least, people are expected planned tariffs on products, including the iPhone, to be delayed.
Apple is within 3% of hitting a record-high market cap, with a current valuation of $1.037 trillion. And it might be about to climb even higher.
“Longer term, this is one of the best stocks out there,” MKM Partners chief market technician JC O’Hara told CNBC. However, in the short term, O’Hara thinks Apple faces a few challenges.
Apple’s share price is within striking distance of reaching a new all-time high.
That’s particularly impressive following the release of an iPhone many predicted would be boring and new Services Wall Street has yet to get excited about.
Apple will reveal its next quarterly earnings report at the end of October. According to Apple’s updated Investor Relations webpage, the Q4 2019 earnings report will land on October 30.
This will cover the fiscal fourth quarter of 2019 — the three months leading up to the iPhone 11 release.
