Expanding Healthcare Offerings To Apple Stock Drive Prospects
Apple Stock News: Apple has offered several new healthcare additions to increase its presence in this segment. Apple teamed up with Healthvana (a health startup), to enable COVID-19 vaccine tracking in Apple Wallet. Healthvana started in 2014 as a company that delivered test results for HIV and other sexually transmitted diseases. COVID-19 had the company move to providing COVID test results to patients instead.
According to finance.yahoo.com, a card with the digital vaccination record will be provided to the vaccine recipients on their Apple Wallet. They can display their cards on their iPhones as proof to access airlines and event venues in the future. The new feature will notify the users about their vaccination status and remind them to get their second vaccine dose. It will also help healthcare officials to track the user’s vaccination status and maintain the health records for easy access.
The popularity of the Apple Watch among fitness enthusiasts is growing due to the increasing demand from people worldwide for health awareness. As reported by www.databridgemarketresearch.com fitness trackers market will reach an estimated valuation of USD 6.5 billion by 2027 while registering this growth at a rate of 19.50% for the forecast period of 2020 to 2027. Apple along with key players in the global fitness tracker market like Fitbit, Garmin, NIKE, Xiaomi, Huawei, and Samsung stands to benefit from elevated consumer demand for fitness monitoring products. Thereby, expanding healthcare offerings should increase drive prospects for Apple stock.
Apple Stock News: Apple Could Rise 32% In 2021: 5G Technology Supercycle
Apple stock investors are looking forward to a supercycle of updates for the first 5G smartphones, the iPhone 12 series. Evercore ISI analyst Am it Daryanani called Apple stock a “core portfolio” for 2021. He rates Apple stock as the best with a target price of 135.
Apple is capitalizing on the following trends, he said. These include an iPhone upgrade supercycle and monetize the base installed on it through the sale of services and wearables. The iPhone 12 is in huge demand from consumers looking for a phone refresh with a new design, improved standard model screen, and night mode on all cameras. The company’s supply chain is expected to grow due to over-demand for the latest iPhone.
As we move towards 2021, iPhone 13 build predictions look better than consensus, according to Loop Capital’s Anand Baruah. Apple’s next smartphone will be just as important as the iPhone 12 in determining the so-called 5G supercycle’s success. If so, expect the iPhone 13 to be the driving force behind stocks in the new year. 5G is likely to be rolled out over several years. The chart below shows that the forecast for 5G smartphones is looking better over time.
As such, Apple’s stock could rise 32% in 2021 as the company aims to break previous records for its iPhone sales in determining the success of the so-called 5G supercycle. The markets.businessinsider.com showed that Apple plans to ship up to 96 million iPhones, up 30% from last year. According to the report, the company can sell 230 million old and new iPhone models in 2021, higher than the consensus forecast of 215 million.
Apple Indicators At The End Of 2020: Market Cap Clocks In At $2.29 Trillion
As reported by finance.yahoo.com ,the iPhone maker hit the $2 trillion market cap level on Aug. 19. Apple’s market cap stood at $1.29 trillion on Dec. 31, 2019. It now clocks in at $2.29 trillion. The forward price-to-earnings multiple on Apple’s stock has expanded to 33 times from 22 times on Dec. 31, 2019. That’s above the five-year average of about 18.2 times.
And the stock price itself has surged 85% year-to-date, outperforming the Nasdaq Composite’s (^IXIC) 42% advance.
It is worth noting that nearly 20% of Apple stock’s year-to-date increase has come over the past month. Many analysts attribute this growth to the Internet announcement about the appearance of Apple’s electric car by 2025 and the 5G technology supercycle. The iPhone 12 became the world’s best-selling 5G smartphone model in October. The iPhone 12 Pro, was the second best-selling 5G model for the month. The iPhone 12 and 12 Pro together captured close to one-fourth of the total 5G smartphone sales in October. iPhone 12 5G stays on track to become the ultimate supercycle.iPhone 12, iPhone 12 mini, iPhone 12 Pro, and iPhone 12 Pro Max will be bundled in Apple’s Q1 holiday 2021 earnings report. Apple surpassed fiscal fourth-quarter 2020 revenue expectations without boosting iPhone 12 sales, hitting $64.7 billion in revenue and $0.73 per share amid the ongoing COVID-19 pandemic.