Apple Stock On The Way Back Up
Michael Harper for redOrbit.com – Your Universe Online
If I didn’t know any better, I’d say there’s a new iPhone on the way, in, say, 3 to 4 weeks or so.
I don’t have a trick knee or anything, there’s just something in the air that smells of new Apple goodness.
Take, for instance, the Q3 earnings call wherein Tim Cook admitted the company is seeing a slowdown in their iPhone sales.
Analysts have also noted this slow down, saying a few months ago that the iPhone is no longer the dominate smartphone at Verizon wireless.
Most recently, retailers like Best Buy, Sprint and Target have begun to mark down their iPhones in order to move some units ahead of what we all assume will be a new phone. Apple even began matching these prices, presumably to help clear their shelves as well.
Oh, and there’s also the fact that there’s no shortage of pictures of how this new phone is expected to look.
There’s also the matter of all the cases being manufactured and markups being drawn of a new device. Yes sir, smells like a new iPhone to me.
Today, another bit of pre-iPhone proof has appeared in the clouds as Apple’s shares have finally started to come out of their 4-month slump and, according to some, will soon reach those record highs analysts were predicting earlier this year.
As it turns out, talk of a new iPhone and a September 12 announcement has brought those potential investors in from the cold, and now they’re willing to get in while the getting’s good. After all, as the old adage goes, buy on the rumor, sell on the news.
As it stands, APPL is priced at $644.55, a whole 55 cents higher than its previous peak on April 10th, according to the Associated Press.
Apple is working with a market value of $602 Billion, nearly 50% higher than the world’s second most valuable company, Exxon Mobile, who’s value stands at $408 Billion.
Now, Jefferies & Co. analyst Peter Misek has raised his target price on the stock from $800 to $900.
Before Apple went on their little roller coaster ride, one analyst, a Mr. Brian White of Topeka Capital Markets, had placed an estimate of $1,001 on shares of APPL, which he predicted would occur within 12 months.
Apple’s high stock prices aren’t the only thing to return after disappearing briefly for a summer vacation. We’ve seen more talk of the Rumored Apple TV this week, as 3 different stories have been published discussing how much the public would pay for such a unit and how many people would be willing to buy one when they release. Yesterday, the Wall Street Journal ran a piece citing People Familiar With the Matter detailing some talks Apple’s been in with a few major US cable companies, namely Time Warner.
Yes, we’ve entered into a calm before the storm, similar to the one we encountered in the weeks leading up to this year’s WWDC keynote, where many expected Apple to update their entire new line of Macs as well as possibly make mention of a new TV or iPad Mini.
As these next few weeks pass, we’ll certainly see the stock continue to rise as rumors continue to surface.