AAPL is back in a big way. After breaking an all-time high of $100.53, the price of Apple shares have continued to climb upward, and according the a WSJ report, hedge funds are piling onto the stock in droves.
Over the second quarter of 2014 henge funds have purchased $855 million in new positions in Apple, giving AAPL the second highest level of new buying activity among S&P 500 stocks.
AAPL shares have finally completed the long climb back to 2012 levels today, closing at an all-time high of $100.53 per share.
The stock’s 1.4 percent rise today was aided by bullish reports from both RBC and Morgan Stanley claiming Apple’s Fall lineup is going to be more extraordinary than ever this year as Apple puts the final preparations on the iPhone 6.
A group of Apple shareholders are ready to add to the company’s anti-hiring controversy woes with a new class action lawsuit of their own that alleges Apple leadership mislead investors and hurt the stock’s overall value.
The lawsuit was filed by attorneys for plaintiff R. Andre Klein with U.S. District Court for the Northern District of California this week, and accuses Apple’s senior management, including Steve Jobs and Tim Cook, of grossly mismanaging Apple’s resources when it struck an agreement not to hire employees from competing corporations.
Snapchat is currently in talks with investors over a round of funding that could value the company at a mind-blowing $10 billion, according to sources for Bloomberg. That’s a little over half the $19 billion Facebook paid for WhatsApp, but double the $5 billion market cap currently held by BlackBerry.
CEO Tim Cook will tell investors why Apple is still numero uno in today’s Q3 earnings call. Photo: Roberto Baldwin/The Next Web
Tim Cook and newly-apointed CFO Luca Maestri are getting ready for Apple’s Q3 2014 earnings call with investors. The call will reveal just how much cash the company raked in over the past three months and what they should expect later this year. We’ll be right here, liveblogging the whole thing.
Apple hasn’t released a new product this quarter, but investors on Wall Street are still bullish about the future of AAPL, sending the company’s stock price surging 26% since its last earnings report.
Whether Apple was able to beat expectations of $38.4 billion in revenue without an explosion of new sales will finally be known today at 2 p.m. Pacific, and we’ll be ready to dish out all the news and juicy tidbits Tim and the team tell investors.
So keep this page open for the full scoop on how ridiculously profitable Apple was last quarter, as well as what’s to come its “most exciting product pipeline in 25 years.”
AAPL shares have been extremely undervalued for years, according to CEO Tim Cook, but it looks like Wall Street is starting to warm on Apple as the share price crested above $600 this afternoon for the first time since 2012.
After hitting an all-time high of $702.10 in September 2012, Apple’s stock has failed to regain its old luster despite record iPhone sales and earnings. Tim Cook announced last month that the stock would be split 7-to-1 in June, sending shares prices on a steady climb since hitting $524 per share the day after the announcement.
Wall Street is lining up to stuff its pockets with cash from Apple’s money printing empire, but rather than dipping into its massive offshore cash pile to pay for its expanded buyback program, Apple is once again planning to raise an enormous amount of debt to pay off investors.
Microsoft announced $24.52 billion in revenue the second quarter this year, showing gains across all segments of its consumer technology business, including Surface, Xbox, and Bing search.
As a previous heavy competitor and sometime collaborator with Apple, Microsoft hasn’t been doing as well in the post-PC era. It’s interesting that the company is defying expectations on the eve of CEO Steve Ballmer’s run at the company, with growth across the board, except in PC sales, of course.
Carl Icahn’s relationship with Apple has been rocky ever since he became the company’s most loquacious investor last Fall. While ribbing Tim Cook publicly with one hand for not doing a bigger buyback, the other has been busy forking over fat stacks of cash for more and more AAPL shares.
This morning Carl went classic Icahn and took to Twitter again to complain about Cook and the Apple board not giving him and other investors more money with his proposed $50 billion buyback, while also announcing he’s been gobbling up AAPL shares faster than Jaws went after those guys on the boat:
Apple announced today that its financial earnings call with investors for Q4 2013 will be held on October 28th at 2PM PT.
AAPL shares have been slowly recovering from a recent slump after hitting a high of over $700 per share in 2012. The recent announcement that iPhone 5s and iPhone 5c sales shattered past iPhone sales records with 9 million units sold should portend good things for Apple’s earnings and the share price, but Wall Street is always pretty fickle with AAPL, so we’ll have to wait and see if the good news will be enough to get more of Wall Street on board.
Like its previous earnings calls, Apple is allowing the press and its shareholders to listen in to a live audio webcast, which is available via its website and can be accessed on iOS devices. Cult of Mac will be on hand to liveblog the results as they come in, along with any commentary from Tim and the gang.