Apple stock continues upward on strong iPhone pre-orders

“Apple shares are continuing to rise … as the tech giant is seeing strong pre-orders on its new iPhones — both the 6s and the 6s Plus,” U-Jin Lee reports for TheStreet.

“Apple said it is seeing an extremely positive customer response,” Lee reports. “‘We are on pace to beat last year’s 10 million unit first-weekend record when the new iPhones go on sale September 25,’ the company told CNBC.com.”

Lee reports, “TheStreet Ratings team rates Apple Inc. as a Buy with a ratings score of B+.”

Read more in the full article here.

MacDailyNews Note: Currently in pre-market trading, Apple shares are down marginally 0.04% or $0.05 to $116.23 at 8:33AM EDT.

8 Comments

  1. So basically what we’re seeing is that the analysts who only a short time ago were proclaiming doom and gloom were in fact talking utter garbage. They were either lying or truly have no clue what they’re talking about. Either way why do people listen to them? They’re the only ones to profit on this rollercoaster of outlook.

    1. ‘Tis always been something of a mystery to me when certain analysts (you all know who I mean), whose prognostications have been proven wrong time and time again, still manage to garner attention with their demonstrably fallacious commentary.

      Must be something in the water…

      =:~)

      1. ‘demonstrably fallacious’ have to say I am impressed. They are probably checking their Oxford English dictionaries at this very moment, though likely they will read the explanation as the exact opposite of what it really means if they stick to their usual trend.

  2. Despite Apple’s open declaration that 6s orders were strong, stock has shown little upward movement. Today it is down for no reason. Trip Chowdhry who is not most perceptive in his commentary however told the truth why Apple stock is not doing well: investors have “zero” confidence in Apple management and Board. The reason for this comment has to do with the failed policy of buy-backs that has not done anything good for the stock other than raise a big pile of debt (around 50 billion). Cook and company are burning billions for something that is basically stupid (buying their own shares instead of expanding growth opportunities). A management that is so dumb about the consequences of its own actions can never inspire investor confidence. A very sad state of affairs and very bad news for the stock.

    1. Jeff Bezos is being praised for taking every penny Amazon makes and using it to grow the company and investors love it. I would think Apple should be doing the same thing with that buyback money. I’m not saying I’m smarter than Apple’s management but I also don’t see any results from repurchasing tens of billions of dollars of stock. I’d have loved to see Apple enter into the space race business more than some intangible (to me) stock repurchase plan. It just seems more positive. It would give investors something to sink their teeth into (maybe). I’m just a bit frustrated so I’m probably not being coherent.

  3. CNBC has way too much control over Apple news. Like Jeff Bezos-owned Washington Post, Apple should purchase it’s own news outlet so for every negative news report, they can release a positive one.

    I’ll admit analysts talk a lot of trash but do potential Apple investors really believe all that nonsense. They shouldn’t be that stupid. I still think CNBC goes all out to find some of the most maligning stories or anti-Apple pundits it can to put Apple in a bad light. If people don’t like Apple all that much, they should just ignore the company and focus on the ones they do like.

  4. You know what I find really amusing about Wall Street? Hewlett-Packard announces a cut of 30,000 jobs and investors are absolutely ecstatic about it and the stock takes a nice jump. Honestly, does that make any sense at all to invest in a company that’s laying off that many employees. It really can’t be (or shouldn’t be) good news for anyone. Is laying off that many employees showing H-Ps future is bright?

    1. Almost universally, Wall Street will reward companies that cut workforce. It is expected that the near-term result will be significant reduction in operating expenses, temporarily improving margins and bottom line.

      Eventually, the company simply cannot keep up with production with such reduced workforce (even if they force everyone to double their output somehow), so the overall numbers soon start going down. Near-term is all that counts for Wall Street, though.

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