Apple Stock News
For the latest Apple Stock News, AAPL closed at $111.77 on Wednesday, September 14th, with a gain of 3.54%, or $3.82 from Apple’s previous closing of $107.95. Since the last report indicating its stock performance at the close of Sept. 12, we have seen the stock increase by 6%.
iPhone 7 Sold Out and Peter Stern Hired
The U.S. and thirty other countries will be among the first to have the iPhone 7 phones sold in stores on Friday, September 16th. As the world anxiously awaits, Apple just announced both iPhone 7 models are sold out. Perhaps this may not be a surprise, as we’ve seen in past releases of its predecessors being sold out. Although customers may not be able to purchase the phones at the Apple stores for now, shoppers may continue pre-ordering online.
The encouraging news of its latest product being sold out gives investors and shareholders the confidence to push Apple stock price higher. Investors can be assured that Apple has the largest total cash reserve of any company, some viewing this as a safe investment.
Apple also reported the hiring of previous Time Warner executive Peter Stern. He will be serving as vice president working in cloud services. Perhaps Apple is seeking his expertise in the cable industry and major media as Apple is seeking to have a joint television service with main broadcasting companies. If he can do this, it will finally put years of negotiations into a possible signed deal.