- Apple’s financial reports were followed by unprecedented growth after exceeding analyst expectations.
- The holiday season fashioned a very bullish outlook for Apple with the release of the iPhone 6 and upcoming iWatch.
- Algorithmic forecast predicts the 3 month spike, and is consistent with analysts until December’s bearish forecast.
- Why Apple dropped by 3.3% along with a short and long term algorithmic forecast for Apple
Apple Stock Soars On iPhone 6 Demand
Apple, Inc., (NASDAQ:AAPL) stock has risen almost 50% since the beginning of 2014 and is on its way to a sixth straight year of annual growth. Recently two milestones have been reached with a $100 share price in August and the more recent record breaking market capitalization of $700 billion, a figure higher than Switzerland’s GDP. This milestone also marked a doubling of the company’s market cap since Tim Cook took over as CEO in August of 2011.
Consumer confidence in Apple has risen since they released larger screen iPhones in September, followed by a strong earnings report in October. Apple reported $42.1 billion in revenue for the three months leading up to September 27th, beating market expectations of $40 billion, and the reported growth of 12% is their highest in two years. Spurred on by huge demand for the iPhone 6, along with analyst’s expectation that the smartphone will have the best holiday season of any of the iPhone devices released until now, Apple’s stock climbed 20% to reach a high peak of 119$ per share. Apple always performs well during the last quarter, but this year looks to be exceptionally profitable for the company.