Apple share price surges in anticipation of new product launches
Global technology giant, Apple Inc saw its shares (AAPL) top a new record high recently, amid heightened expectations around forthcoming product launches promised by the company. So what did this mean for Apple’s stocks?
AAPL Live Price Chart
Apple Inc Steady Rise
Apple shares continue to rise steadily, touching an intraday high of $163.12 recently, increasing by 0.89%, and hitting a new all-time high. In fact, the shares of the technology company added 1.50% to their market value, marking a fourth consecutive period during which the global giant enjoyed significant gains.
Apple Inc stock climbed 9.53% during the last quarter, following a previous surge of 3.27% earlier in the summer. For binary traders, it’s useful to note that the NYSE-listed organisation’s shares have risen by 10.03% during the past year.
Forthcoming Products Boost Apple Share Price
Apple’s latest and highly anticipated iPhone 8 is due to be revealed in mid-September, amid much fanfare. Advance orders are already stacking up. In addition, the company’s Watch Series 3, features the capability for the independent operation of an iPhone and cellular connectivity. The watch is due to be revealed during a launch event in September.
On top of those developments, Apple has reportedly formed a new partnership with Accenture Plc. This enables them to enhance the iOS applications that are used by Apple’s iPad devices and its iPhone. Many experts consider the move to be Apple’s latest attempt to spread its net even wider to attract more business clients.
Future Price Targets
According to recent CNN reports, a group of 22 analysts who provided 12 month forecasts concerning the Apple share price. They reportedly quoted an average target of $176.00 with a high estimate of $208.00 and a low end estimate of $131.00. The median estimate provides an 8.04% increase as compared to a recent closing price of $162.91.
CNN also reported that of the 38 investment analysts they had surveyed, 23 of them had rated Apple’s stock as ‘buy’. Nine rated it as ‘hold’. Just one of the respondents surveyed recommended selling the stock.