Apple Stock News
Latest Apple Stock News, the stock closed yesterday at 95.53 and increase of 0.57%. The stock has taken a hit because of the Brexit, and has been following the trend of the British Pound.
Here’s the latest news:
According to Bloomberg, Apple iPhone sales in China are going down. Apple was never the number one smartphone in the Chinese Market, but with latest information that came out, Apple has dropped to fifth place in the Chinese Market. Revenue has dropped by 26%. Analysts are thinking that consumers view all of the smartphone technology the same, but what gets them to buy a phone is the price. If Apple wants to succeed in China, they may have to lower their price.
Samsung, Apples largest competitor, just released data that their sales rose 17% from a year earlier. The Seoul based company has been picking updating its galaxy to become a bigger player in the smartphone market. Samsung’s Galaxy S7 and S7 Edge are the main driver of growth right now. The better performing camera and longer battery life have turned consumers to their products.
Carl Icahn and Warren Buffet have different opinions on the Apple stock. Icahn, founder of Icahn Enterprises has recently sold his shares in Apple. His opinion is shocking as he once said that the stock is “dramatically undervalued”. Warren Buffet, CEO of Berkshire Hathaway, usually stays away from Tech stocks. With the exception of shares in IBM and now Apple. The motive for this is that their dividends have been increasing yearly, and has become a more shareholder-friendly stock.
Many are still waiting for what is to come this fall with iOS 10. All of Apple’s devices will be receiving new software updates. Investors will be eagerly following what consumer say of these updates, as well as watching closely what the new iPhone 7 has to offer.