We didn’t want to let this milestone pass by without acknowledging it: shares of Apple have hit the $119.95 mark in intraday trading, the highest stock price for the Cupertino firm since late 2015 and good for a cool $639.7 billion market cap. $AAPL hit a 52-week low of $89.47 in May 2016.
This has got to be some refreshingly encouraging news for investors, more so given the current “gloom and doom” sentiment surrounding the company’s business which has faced three straight quarters of revenue declines and first drop in iPhone sales ever.
Analyst Brian White said last month that “a never ending waterfall of ‘gloom and doom’ media reports” surrounding the company has convinced him to continue to believe that Apple is “one of the most underappreciated stocks in the world.”
The stock has been steadily climbing in value in recent months, but it’s unclear if the latest rise is the result of a note distributed to clients Wednesday by Cowen and Company analyst Timothy Arcuri suggesting iPhone 8 could include some form of facial or gesture recognition via a new laser sensor near the front-facing FaceTime camera.
In addition to the iPhone 8 and iPhone 7s/Plus refreshes this September, Apple is expected to release three new tablets in 2017, update Macs with Intel’s Kaby Lake chips and possibly introduce a 4K-capable Apple TV given the recent increase of the maximum size of Apple TV app downloads from 200MB to four gigabytes.
These are the upcoming products we “know” about.
The bigger question Apple investors face today is whether or not the company has any new surprise products up its sleeve. One of the rumors alleges that Tim Cook & Co. are big on augmented reality and secretly developing a virtual reality/augmented reality platform which could be integrated into iPhone’s camera.
What are your expectations from Apple in 2017?