“Shares of Apple Inc., down nearly 40% from the all-time high notched in 2012, found relief Wednesday following the company’s third-quarter report, though the results have arguably intensified pressure on Apple to bring out new products over the next couple of months,” Dan Gallagher reports for MarketWatch.
“Shares of Apple were trading up nearly 6% at $443.70 by late Wednesday afternoon,” Gallagher reports. “The stock has jumped 12% since slipping below the $400 mark last month but remains down more than 16% this year alone.”
Gallagher reports, “Expectations for new products — especially in the iPhone and iPad lineups — appear to be the main drivers for brokers who remain positive on Apple. More than three-quarters of the analysts covering the stock maintain buy ratings with price targets at or above $500, according to Thomson Reuters data.”
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