Apple Stock News
For the latest Apple Stock News, AAPL closed at $159.76 per share on October 18th, 2017. It generated a loss of 0.44% from its previous close on October 17th, 2017, when it closed at $160.47 per share.
Tech giant Apple and industrial behemoth General Electric are partnering to create mobile apps for the industrial industry. This could include factories, power plants, and many other segments.
On Wednesday, the duo announced that they are launching a toolkit to allow developers to create apps for the iPhone and iPad that would use GE’s industrial IoT analytics platform, Prefix. This Prefix platform is now Apple’s preferred tool for connected factories. It would allow remote workers to connect for inspections and repairs. It should result in increased cost savings and less unplanned work stoppages. This partnership will merge Apple’s user experience expertise with GE’s industrial focus. It also illustrates Apple’s need to keep future sales strong by foraying deeper into the enterprise market. The toolkit will be available to download starting October 26th.
Other Developments
According to KeyBanc analyst John Vinh, the iPhone 7 is outselling the iPhone 8 in the U.S. This is just more evidence that consumers don’t see the value in the iPhone 8 and that many potential customers are instead waiting for the iPhone X. One meaningful factor is that the iPhone 8 currently costs $150 more than the iPhone 7.
On a positive note, according to GBH Insights analyst Daniel Ives, 70% of Apple Watch Series 3 buyers (and current iPhone owners) are purchasing their first Apple Watch. He also learned that 80% of Series 3 buyers are purchasing the cellular version which does not need an iPhone nearby to function. The cellular version is also $100 more than the basic version, yielding Apple extra profit. This success in the wearables market bodes well for Apple’s future.
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