AAPL shares closed at yet another all-time high on Tuesday, with a value of $136.68 — or an increase of 0.71 percent.
The previous closing record was set last Friday when Apple reached $135.72. Do you think Tim Cook ever gets bored of winning?
Apple stock has long been a great investment, but things have been looking particularly rosy since the company’s impressive latest quarterly earnings figures, which showed incredibly strong holiday iPhone sales and a booming Services division.
Prior to closing time yesterday, Morgan Stanley’s Katy Huberty issued a note to clients in which she raised her target price for Apple from $150 to $154.
The reason? Because she believes that Apple’s struggles in China — which prompted uber investor Carl Icahn to ditch his AAPL stock last year — are overblown, and thinks that “Apple is positioned to take net users from local Chinese smartphone brands.” Huberty even goes so far as to suggest that one in five users of Chinese smartphones in the country could wind up jumping ship to iPhone.
On top of this, Huberty joins the legions of people already getting excited about this year’s iPhone 8. While recent reports suggest it may not get all the new features some have speculated about (it looks like we’ll just regular wireless charging, rather than a super new Apple version), it’s still shaping up to be the biggest upgrade since 2014’s iPhone 6.
Apple was recently ranked in top place in Fortune magazine’s list of “most admired” companies. The list was based on companies’ industry ranking, innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment value, quality of products and services, and global competitiveness.
In other words, it seems Apple has most of its bases covered!
Source: Business Insider
Luke Dormehl is a U.K.-based journalist and author, with a background working in documentary film for Channel 4 and the BBC. He is the author of The Apple Revolution and The Formula: How Algorithms Solve All Our Problems … and Create More, both published by Penguin/Random House. His tech writing has also appeared in Wired, Fast Company, Techmeme and other publications.
3 responses to “Apple hits yet another all-time stock price high”
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One would think Apple could hit all time highs being the revenue is decent, the profits are high and there’s still a bundle of reserve cash to be repatriated. On the other hand there’s Tesla. Shabby fundamentals, high cash burn, horrible EPS and almost never delivers cars on time. However… look for Tesla to also reach all times highs based on… based on…? Ya got me. I have no idea what’s driving Tesla to all-time highs except Elon Musk’s charm and smile. The big investors absolutely love Tesla and I can’t figure out why. I hope Tesla succeeds but I’m not quite sure why the company gets a free pass. The company surely has e-Car competition from some well-heeled automakers. Who the heck is going to be buying all those Teslas?
If Tim Cook was able to stir up some investor confidence like Elon Musk does, Apple shareholders would have it made in the shade.
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