Apple Stock Pops On Same Day It Earns A Rating Upgrade
Apple stock rose more than 2% on Tuesday ahead of its Sept. 12 event where the company is expected to announce new products, including the iPhone 15 and new Apple watches.
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Posted 8/29/2023, 10:35:00 PM
investors.com
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U.S. stocks rose sharply as investors anticipated strong quarterly results from Nvidia and looked ahead to the Jackson Hole conference, with tech stocks expected to rally further.
Apple Inc. stock rallied 2.19% to $181.12, marking its fourth consecutive day of gains in a favorable trading session for the stock market.
This article mentions the stock of Apple (NASDAQ:AAPL). The author's suggestion is not explicitly stated, but they express concerns about the low dividend yield, modest dividend growth, and potential overvaluation of Apple's stock. The author also discusses Apple's strong brand, the possibility of an acquisition of Disney's assets, and the headwinds and risks facing the company. The author suggests that a recession or market correction could lead to a potential price drop and provide a good entry point for investors. However, they also acknowledge the potential for the stock to continue trending upwards, especially during the holiday season.
DexCom Inc. stock rose by 1.30% after ending a four-day losing streak, as the overall stock market also experienced significant gains.
Stocks are set to open slightly higher following a strong rally, as investors anticipate the release of the Labor Department's non-farm employment report and Apple's product event.
Apple's stock is on track to snap a seven-month winning streak, despite a 6.3% rally over the past two weeks, as concerns over declining smartphone demand continue to affect the technology behemoth.
Intel's stock rose nearly 2% after CEO Pat Gelsinger expressed optimism about the company's current quarter and announced the launch of a new data center chip.
Salesforce surpasses Apple as the top-performing stock in the Dow Jones Industrial Average and continues to gain momentum after its latest earnings report.
September has historically been the worst month for stocks, but this year may be different as the excitement around AI, cash on the sidelines, and Apple's new iPhone could potentially drive positive market performance.
Apple's stock market value surpassed $3 trillion for the first time, driven by signs of improving inflation and expectations of successful expansion into new markets, with technology stocks rebounding on bets that the US Federal Reserve may slow its rate hikes.
Apple shares have declined due to falling revenue in its product segments, but the company's long-term outlook remains strong, driven by its booming services business and dominant market shares, with two reasons to buy Apple stock being the upcoming iPhone launch and its potential in high-growth industries like AI and virtual/augmented reality.
Shares of Tesla Inc. rose 2.7% to buck the trend of weakness in the electric vehicle market, as the stock looks to rally over 20% above its recent low.
Apple stocks fell 3.6% after China reportedly banned officials from using or bringing iPhones and other foreign-branded devices into the office, signaling Beijing's push to reduce dependence on American technologies.
Apple stock is experiencing a decline leading up to the release of the iPhone 15.
Apple is expected to announce new iPhones and Apple Watches at their upcoming event, but they may face challenges in convincing people to upgrade due to a slowdown in the smartphone market and the option of a cheaper battery replacement.
Stocks rose on Friday as the Nasdaq rebounded from Apple's recent slide, fueled by speculation that the Federal Reserve may not raise interest rates in September, while concerns about rising energy prices and Apple's market value decline continue to linger.
Apple's market value has dropped by 10%, or $310 billion, due to slowing growth, disappointing third-quarter results, declining iPhone sales in China, and a lack of new high-growth products, raising concerns about the company's future prospects.
Investors hoping for a surge in Apple's stock on iPhone launch days may be disappointed, as historical data shows that the stock usually falls on the day of the announcement and the release, but gains in the months following the release.
Arm stock is experiencing a second day of gains and is currently more popular than Apple.
If instead of buying new iPhones at each release, one had invested the money in Apple stock, they would have a stock portfolio worth $367 million.
UBS analyst David Vogt's data suggests that initial demand for Apple's iPhone 15 Pro models is softer compared to last year's models, contradicting reports of strong sales, which caused Apple stock to fall.
Apple is expected to increase its share of India's smartphone sales with the release of its high-end iPhone 15 Pro and Pro Max models, projecting to account for 7% of all smartphone sales in the country from July to December, according to market researcher Counterpoint.