“Fueled by U.S. wireless carriers’ reports of strong early orders for the iPhone 7 as well as arch-rival Samsung Electronics’ widely-publicized recall of potentially exploding Galaxy Note 7 smartphones, shares of Apple rose as much as 4.7 percent to $113.03 for a gain of 10 percent in the past three days,” Randewich reports. “Its market capitalization reached nearly $607 billion, compared to $535 billion for Alphabet (GOOGL.O) and $440 billion for Microsoft.”
“After sinking to a two-year low in July that had portfolio managers describing Apple as a value stock and no longer a growth play, shares of the world’s most valuable listed company have since rebounded 25 percent,” Randewich reports. “Also up on Wednesday were companies supplying chips and other technology for iPhones: Cirrus Logic (CRUS.O) rallied 4.3 percent, Skyworks Solutions gained 3.8 percent and Jabil Circuit added 2.8 percent.”
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MacDailyNews Take: From our jam-packed iCal, July 2016:
Our opinion [is] that Apple has peaked under the leadership of CEO Tim Cook. — Colin Gillis of BGC Financial L.P. as he downgraded the stock to ‘Sell’ and lowered his price target by 23% to $85.
Analyst downgrades Apple, says company has ‘peaked under the leadership of CEO Tim Cook’ – July 25, 2016