Apple stock news: After production start of the IPhone X, Apple has seemingly addressed many of the production issues at hand, and increased daily production to approximately 450,000 – 550,000 pieces a day compared to the 50,000 – 150,000 a month ago. Due to this improvement shipment will increase 10% to 20% in the Q4, higher than the previous estimate but become slightly lower in the first quarter of 2018.
This increase in shipments comes just right for the holiday season, most probably leading to high sales of the new product and a strong finish for the Apple share at the end of Q4. Apple’s financial guidance for the ongoing quarter suggest that Apple is confident that it has resolved all production trouble and is aiming towards a record performance with strong demand throughout the quarter. The high demand for the IPhone X was forecasted by an I Know First analyst on September 8th. Since the bullish forecast on September 8th, Apple shares (AAPL) are up 8.5% which is a fair amount for such a heavy share.
Although Apple (AAPL) has seen some difficulties in the past, with the delayed release of the HomePod, the company is still growing, and is estimated to reach a median target of $193.00 with some estimates seeing it as high $235.00 in the coming 12 months. Currently at $174.97, the share has room to grow, and most probably will do so in the upcoming months.
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