Apple on Wednesday issued a revision for its fiscal Q1 2019 earnings, lowering its revenue expectations from $89 billion to $93 billion down to ‘approximately $84 billion.” Tim Cook made the announcement in an open letter to investors, and trading halted on the news.
Apple is breaking records—the company’s stock price has surged to an all-time intraday high, trading as high as $134.88 today and having surpassed the previous all-time intraday high of $134.54 set on April 28, 2015. The current stock price gives the Cupertino company a market capitalization of nearly $710 billion, the largest market valuation for a publicly traded American company.
According to MarketWatch, just yesterday the stock had closed at a record $133.00, passing the previous record set two years earlier.
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.
On Tuesday, Apple afficionados were treated to a new wave of white shell iPhone 7 mock-ups and purported leaks hitting the internet, advancing the notion that the Cupertino-based company could plan to release a white counterpart to their Jet Black coating some time around March 2017.
From an aesthetic standpoint, everyone is going to have their two cents on the necessity of it in the grand scheme of things. Simply by moving the discussion from the fashion sphere to the finance department though, the ambivalence in regard to whether or not this iPhone release is genuinely necessary quickly crumbles and clearly comes down on one side of the fence.
As we will learn in late January, Apple’s first quarter of the fiscal year 2017 is going to look after itself nicely, but in view of the Q2 figures and a long summer following, Jet White definitely needs to happen. Two key reasons must be paid attention to in order to understand the imperative of a Jet White iPhone for a healthier bottom line in the fiscal year of 2017.
Apple of California will replace AT&T in the Dow Jones Industrial Average after the close of trading on March 18, Reuters reported this morning. The famed Dow Jones Industrial Average is indicative of the overall market health so Apple joining and replacing the nation’s second-largest carrier on the index is certainly an encouraging sign for the economy.
Because the Dow is a weighted average of absolute stock price (unlike other indices), Apple was unable to join the Dow until its seven-to-one stock split, which took place in June of last year.
Apple’s market capitalization has hit a new milestone, going up 0.8 percent shortly after the market opened Tuesday morning and reaching a market value of nearly $702 billion, higher than any U.S. company in history. By comparison, its previous record market capitalization hit $658 billion in September 2012.
The stock has been rising steadily over the past few months and has picked up speed after the company posted record opening weekend sales for the new iPhones in September and investors reacted positively to the Apple Watch and other new products Tim Cook & Co. unloaded as part of the massive Fall product refresh.
Apple is poised to have another record-breaking quarter for iPhone sales, if a new prediction proves to be true. According to Wells Fargo Securities analyst Maynard Um, the addition of new carriers and several promotions will help drive iPhone sales to 36.5 million for the June quarter. Um predicts that Apple will have quarterly revenue of $38.2 billion, beating the Wall Street prediction of $37.9 million…
As promised during Apple’s most recent earnings call, the Cupertino, California headquartered consumer electronics powerhouse is set to open on Monday at $92.22 a share as the company puts forth its plan to split stock, its fourth stock split to date.
All common stock owners will receive six additional shares for each share in existence. As a result, the value of each individual share will drop accordingly, but the value of their total holdings will not. Read on for the full reveal…
The Wall Street Journal earlier this month asserted that China Mobile and Apple had finally cut a lucrative distribution agreement that would put the iconic smartphone on the world’s largest mobile network with more than 759 million subscribers, or more than twice the U.S. population.
China Mobile Shanghai’s website has even offered iPhone 5s/5c pre-orders as the giant wireless operator is gearing up to launch its new 4G TD-LTE mobile network in the 1.33 billion people country, Apple’s second-largest market by revenue.
But alas, the deal hasn’t materialized although the WSJ story suggested that Apple and China Mobile would announce the iPhone agreement “around December 18”.
With no deal in sight, shares of Apple dropped nearly two percent in early trading Wednesday, with the carrier confirming to Reuters that it’s still in talks with Apple. And so the cat-and-mouse game continues…
If you run a multi-billion dollar corporation and your secretary tells you activist investor Carl Icahn is on line 2, the very thought of that should send chills up your spine. Icahn is known for his ominous “increase shareholder value” mantra and stops at nothing to put forward massive corporate stock buyback programs, even pushing for board and CEO changes if need be.
Yesterday, Icahn tweeted he “just sent a letter to Tim Cook” concerning Apple’s buyback program. And now, the contents of the letter has been published on his newly launched website called the Shareholders’ Square Table.
For years, the media has been keen to compare companies based on their market capitalization. The metric itself is pretty fluke, but it makes for nice headlines – especially if the topic of reporting is Apple. Earlier this year, for example, much noise was made about Apple passing the oil giant ExxonMobil to become the world’s most valuable corporation by market capitalization.
Having said that, it really shouldn’t be surprising big media is now reporting that the Internet giant Google recently “passed” Apple to become the world’s most valuable technology corporation. The bold claim comes with a caveat: you have to stretch your definition of market cap and strip out some key metrics…