Apple’s stock price fell off a cliff this morning, trading below $100 a share for the first time all year. The best time to buy AAPL shares all year was at 9:30 a.m. today, when the stock opened at $94.87 — before Tim Cook intervened.
Cupertino claimed the title of world’s most valuable company earlier this year, but according to some bullish Wall Street analysts, Apple could soon become the world’s first trillion-dollar company.
In a note to investors today, Cantor Fitzgerald analyst Brian White increased his target price for Apple shares to $180, putting his estimations well above other analysts’ expectations. Apple shares’ value will increase 40 percent over the next 12 months, according to White’s report.
While Apple naysayers have pointed to slumping iPad sales and the unclear future of the Apple Watch as signs that Apple is weakening, White gives three key reasons why Apple is poised to break the trillion-dollar barrier.
Apple officially joined the Dow Jones Industrial average today, placing the world’s most valuable company among historic brands like Coca-Cola, Boeing and 3M. But Apple’s first day with the big boys isn’t getting off to a great start.
Shares of GoPro stock plummeted as much as 15% this afternoon after it was announced that Apple was awarded a patent that could put the wearable camera company in serious trouble.
Apple was granted a series of 34 patents by the U.S. Patent and Trademark Office today relating to a camera system that can be mounted to helmets and scuba masks and controlled remotely. That patent specifically mentions weaknesses in GoPro’s system, which has sent investors worrying that Apple is aiming to crush the sports camera giant.
Apple shares took an inexplicable beating from investors on Monday morning, leading to the stock’s single biggest fall since January 28th, 2014. And no one really know why.
An unusual spike in trading volume this morning sent the price of AAPL shares falling as much as 6.4 percent to $111.27 in early trading this morning, leading to a loss of more than $40 billion in market value in just a few minutes.
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.
It’s been a long wait for Angela Ahrendts to finally join Apple, but as the new VP of Retail just took office last week, Apple decided to make her move from fashion to tech much sweeter by granting her stock options worth a whopping $68 million.
Google stock has risen 13% today, surpassing $1,000 for the first time ever. It comes a day after the search giant announced its earnings for last quarter, which beat Wall Street expectations thanks to a surge in mobile and video advertising that helped increase quarterly revenue by 23%.
Carl Icahn finally got his dinner date wish with Tim Cook last night, after the famous billionaire investor took to Twitter a few weeks ago to preach how Wall Street has seriously undervalued AAPL stock. Along with parading his optimism for Apple’s stock, Icahn purchased a major stake in AAPL stock and has been dying for Cupertino to issue more buybacks.
Apple may not be snapping up big companies all over the place like Yahoo!, but it is buying lots of shares in one major corporation — itself. Last quarter, the Cupertino company spent $16 billion on 36 million of its own shares, which cost, on average, just over $444 apiece.