Apple Stock News
For the latest Apple Stock News, AAPL closed at $160.47 per share on October 17th, 2017. It generated a profit of 0.36% from its previous close on October 16th, 2017, when it closed at $159.88 per share.
As we are getting closer to November 3rd, iPhone X’s launching date, Apple’s manufacturing partners released their first shipments of the handsets. Customers seems to be very anxious to purchase the iPhone X and this, consequently, may drive Apple’s valuation to new heights.
Apple’s profits may boost due to the higher prices assigned to this new iPhone generation. Many analysts raised the Company’s ratings. Daniel Ives from GBH Insights expects that there will be sufficient uptake of the iPhone 8, iPhone 8 Plus and iPhone X for the next 12 to 18 months, which may in turn leave the stock price to range between $160 and $175. Ives believes that the iPhone X product cycle can be the strongest iPhone product cycle to date.
KeyBanc Capital Markets also raised its rating for Apple shares. According to Andy Hargreaves, there will be a “strong high-end demand” for the newest iPhone, which will favor investors sentiment over at least the next few quarters. Furthermore, the KeyBanc analyst predicts a gross profit margin of 39.5% and $11.68 of earnings per share for the fiscal 2018.
Hence, as Hargreaves said, Apple is a franchise with subscription-like qualities and not a regular hardware business, which support the Company’s position in a strong range.
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