Company - - Feb 23,2017
After a positive research report from Morgan Stanley and expectations from Chinese market, apple’s shares closed at $136.70 on 21 Feb, an all-time high
Continuing with its record-breaking performance, AAPL stock registered yet another all-time high on 21 Feb, when the stock closed at $136.70, up from the previous all-time high of $135.27 by 0.7 percent. For the first time since 2015, Apple's market capitalization went past $700 billion mark. The company's market cap was at $719.19 billion on 21 Feb, 2017
Morgan Stanley's Katy Huberty raised the target price for Apple to $154 from $150 on 21 Feb, which is 13% above current levels.
Apple flagship smartphones, iPhone, is known for its speedy upgrades for Apple’s high-end users, especially those in china as Chinese people are more sensitive to new technologies and latest innovations. A survey also suggests that one out of every five Chinese-branded smartphone users are likely to switch over to iPhone on their next purchase.
Apple’s flagship smartphone latest edition “iPhone 8”, which is likely to be introduced in September this year, will come packed with latest technologies including wireless charging. A new display technology, currently used for smart watches, which allows a curved form factor, longer battery life, 3-D sensors and advanced artificial intelligence capabilities. These innovations could be enough to excite Chinese and global consumers.
As per a report, China will be the driving force in the fiscal year of 2017-2018. In 2018 Apple is expected to ship 72 million iPhones, which means an increase by 27 million from the present time.
Although Apple is expected to do well in 2017. The revenue from Greater China, which includes Hong Kong, Taiwan, and mainland China, is at $8.85 billion for the quarter, down by 33 percent from last year. Apple shipped 43.8 million smartphones in China, a decline of 8 percent. The figure puts Apple in fifth place behind Chinese manufacturers Oppo, Vivo, Huawei, and Xiaomi in China.