Apple Stock News
For the latest Apple Stock News – On Wednesday, March 15th, AAPL closed at an all time closing high of $140.46. The stock had increase of 1.06% from its previous close of $138.99, increasing by $1.47.
The rise of AAPL shares, can be correlated to the recent announcement by RBC Capital’s Amit Daryanani.
Daryanani reiterated an ‘outperform’ rating on the share and raised his target price to $155 from the original $140.
On March 12, an I Know First article was written about the future of Apple and where their potential lies. With optimism surrounding the company’s services business and its potential, coupled with an expected increase on capital returns and a encouraging iPhone 8 cycle, things are looking promising.
Apple’s goal from its service business is to reach $50 billion in annual revenue. Almost doubling what it is currently. The proof is in the numbers. In the last fiscal year (ended September) services became 11% of total revenue, up from 9% the previous year. This the biggest share behind the iPhone which is at 63% of total revenue.
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