Apple Stock Summary:
- Citigroup published a new price target of $300 for Apple stock, a 20% increase compared to its previous price target of $250.
- Apple revealed the best games and apps in 2019.
- Analyst Ming-Chi Kuo suggests that new mini LED technology will be implemented in Apple’s devices in 2020.
- Apple Announces first-ever Music Awards winners.
Citigroup Raises Apple Stock Price Target to $300 on Expectations of Robust Holiday Sales
On December 5, 2019, Citigroup revised its forecast for Apple stock price, setting a new price target of $300, a 20% increase from its latest price target of $250. According to Citi’s analyst Jim Suva, the bullish forecast is influenced by strong holidays sales and the high demand for Apple Watch and AirPods. The increase in the wearable segment’s sales was also reflected in Apple’s latest Q4 earnings report, a trend that will develop further according to the investment bank’s latest projections.
Citigroup price target revision comes only two weeks after Morgan Stanley raised its price target to $296. The positive outlook presented by the two major investment banks is also in line with I Know First’s bullish forecast as of November 21. Our algorithm recommends a long position, both for the short and long term, with high signal and predictability scores for the next 12 months. I Know First’s Senior Analyst Motek Moyen recently published an analysis report regarding Apple stock, setting a target price of $290.
Apple stock price is currently $270.7 (as of December 8, 2019) after completing a full recovery from a decline fueled by recent trade war concerns.
Apple Revealed the Best Apps and Games of 2019
As we approach the end to 2019, apple released its list of best apps and games available at the App Store.
The big winners:
iPhone App of the Year: Spectre Camera (Lux Optics) – an app that utilizes AI to enable users to take long exposure photos.
iPad App of the Year: Flow (Moleskine) – a digital notebook app for drawings and sketches.
Mac App of the Year: Affinity Publisher (Serif Labs) – a graphic design app that makes pro-level design accessible to everyone.
Apple TV App of the year: The Explorers (The Explores Network) – an app design to support the community of explorers, scientists, and artists that creates a comprehensive “visual inventory” of the natural world through photos and videos.
Best Games of 2019: “Sky: Children of the Light” (iPhone), “Hyper Light Drifter” (iPad), “Gris” (Mac), “Wonder Boy: The Dragon’s Trap” (Apple TV)
Apple 2020 iPads and MacBooks Will Feature New Technology Called Mini LED, Analyst Says
A recent report published on December 2 by Ming-Chi Kuo, an analyst who research Apple’s supply chain companies in order to predict new product releases, suggests that Apple might integrate a new technology called mini LED into its iPads and Macbooks.
According to Kuo, Apple is planning a 4-6 mini LED products. The first will be the high-end iPad Pro scheduled to be launched in the 3rd quarter of 2020. The second will be a new 16-inch MacBook Pro scheduled to be released during the last quarter of 2020.
Mini LED has several benefits over the LCD and OLED screens that are used for Apple’s current products, mainly because they offer higher image contrasts. According to Kuo, mini LED technology could significantly improve productivity and the entertainment experience of Apple users.
Apple Announces the First Apple Music Awards
The Apple Music Awards is an event organized by Apple to honor achievements across five categories: Global Artist of the Year, Songwriter of the Year and Breakthrough of the Year were selected by Apple Music editorial team experts and test-makers, while the Album of the Year and Song of the Year winners are determined according to streaming data of Apple Music customers.
The first Apple Music Awards winners by categories are: Billie Eilish (Global Artist of the Year and Songwriter of the Year), Lizzo (Breakthrough of the Year), “Old Town Road” by Lil Nas X (Song of the Year), and “When We All Fall Asleep, Where do We Go”, by Billie Ellish (Album of the Year).