“Several analysts downplayed concerns about Apple Inc’s iPhone X production issues and were bullish on demand and sales, pushing the company’s shares to a record on Monday,” Reuters reports. “Positive commentary from analysts on Monday signaled strong demand for the pricey device with pre-orders starting this past Friday.”
MacDailyNews Take: It’s not “pricey.” It’s got a processor that benchmarks faster than laptops, but it fits in your pocket. iPhone X is worth more than Apple is charging.
“Since the launch of new iPhones on Sept.12, the stock had fallen 2.5 percent until last Thursday’s close. They rebounded on Friday after Apple said pre-orders for the 10th anniversary phone were ‘off the charts,'” Reuters reports. “The stock climbed to $168.07 earlier in the session, adding nearly $26 billion to its market cap and inching it closer to becoming the first company with a trillion dollar valuation.”
MacDailyNews Take: In a few hours, Apple’s market cap grew by more than a SiriusXM.
“Daniel Ives, a well-known sector analyst, raised his forecast on Monday for pre-orders by 10 million, and several other analysts talked up sales over the next year,” Reuters reports. “In a note, Ives of research house GBH Insights, raised his pre-order demand expectations for the iPhone X to 50 million units from 40 million, calling the first stage of the iPhone X release a ‘stellar success.’ ‘With the official launch of iPhone X in Apple retail stores slated for this Friday, Nov. 3, we anticipate very high demand globally with limited supply of iPhone X on hand,’ Ives said.”
“Wall Street is bullish on Apple with 31 of 38 brokerages rating the stock ‘buy’ or higher,” Reuters reports. “Their median price target of $180 projects a market cap of nearly $930 billion for the iPhone maker.”
Read more in the full article here.
MacDailyNews Take: So as not to jinx it, we won’t write out the “t” word when describing Apple’s market cap possibilities for 2018.
SEE ALSO:
Apple shares hit new all-time intraday and closing highs – October 30, 2017
RBC: President Trump’s tax plan could drive Apple to trillion dollar market value – October 10, 2017
How Apple’s market cap could reach $1 trillion – August 30, 2017
RBC: Oh, yes, Apple is primed to be the first company to hit the $1 trillion market cap mark – August 9, 2017
Apple: First trillion dollar baby? – August 4, 2017
Why Apple’s market cap is going to $2 trillion – August 2, 2017
Analyst: Apple to become world’s first trillion dollar company within 12 months – July 7, 2017
How Apple’s market value gets to $1 trillion – May 23, 2017
Gene Munster: Why Apple deserves an historic trillion-dollar valuation – May 22, 2017
Analyst sees Apple’s market value at $1 trillion in a year – May 8, 2017
Apple’s path to first-ever $1 trillion market cap – March 7, 2017
Apple on track to become first ever $1 trillion company – February 17, 2017
Really…no pun intended. Uhuh, sure.
Just notch it up to a pun…. Woops!
Help, I can’t stop! 😉
Good think I own apple stock, it’s the only way I can afford their computers.
Good thing….
“afford”? As compared to what? “Macs are expensive” was debunked long, long ago. Compared the same capabilties. They just don’t make bargain basement rubbish, if that is what you want.
Yes “afford”. $1000 cell phone, $1500 for a desktop. For $2500 you can buy a LOT of androids and Windoze computers, which most people, as shown by market share, are not going to shell out. BTW, my windoze buddy bought a Windoze laptop 5 years ago with an i7 chip on sale as worst buy for $700 still working and still fast, The i7 is still an optional upgrade for Macs. Only the low end windoze machines offer i5 chips. But, that’s why I own Apple stock, the stock performs better then their computers do. If it wasn’t for OS X I’d would have been long gone.
Let’s not forget that good ole screw up Tim Cooke has let a very large portion of the Mac line up to go horribly stale. Who wants to pay a premium price for a 2,3,4,5 year old spec’d product?
it’s ok to invest today as I suspect long term it’s still going up
but the people who poured in money today AFTER the reports of good iPhone X orders are kinda late to the party, time to invest is when the ‘doom side’ analysts were screaming….
Let’s not get too excited here. I am waiting for the earnings later this week. I am sure this is yet another pump and dump when the earnings/forecast somehow “disappoints”.
Being a stock holder i hope this is not the case, but i have been holding the stock long enough to have seen this many times before
here is how a conservative estimate of “off the charts” leads to $200 price share
https://seekingalpha.com/article/4118078-apple-iphone-x-will-drive-strong-share-price-jump
Keep it under raps, but 2018 might just be too late. I suspect iPbone sales up to the release were more robust than anyone thought. Look at China markers rebounding 40% before iPhone X went on sale.
How sweet it is. This keeps up MDN you might have to supply champagne instead of beer on Friday.
Let’s see how long the euphoria lasts. I’m sure the news media will do its best to somehow spin high iPhone X demand into something bad. I can understand Apple having a poor quarter but it pisses me off that Alphabet, Amazon, Facebook, and Microsoft continue to breeze through while Apple has to keep struggling to try to attain any sort of growth. I’m sure Apple has the resources to gain growth by various means, but Apple doesn’t seem as aggressive or hungry as those other tech companies. Jeff Bezos never lets up on acquisitions and has every rival company shaking in their proverbial boots. Apple doesn’t seem to scare its rivals, at all, and that really puzzles me. Qualcomm is all in Apple’s face and staring them down. Android just keeps stealing market share percentage faster than ever. They just won’t fold.
Hey………Don’t piss in the punch bowl.
The sky is not falling – Just the reverse – Heaven on earth.
There is no way the Samsung paid disinformation corp
can reverse the spin on this fastball.
We are here to deprogram you.
Apple is missing a critical point right now. The ignored the mac long enough that people left apple. They could have increased their hold on people by at minimum keeping pace with the specs of windoze machines. I remember the good old days when Windoze machines were lagging in specs, now Apple is selling 3,4,5 year old spec’d machines at a premium price. Went to buy an ipad mini 4 the other day, only to learn it’s already 2 years old. Tim Cooke is a complete idiot to keep selling stale products and losing long time customers.
Yehhhh, Apple is doing SO badly right now, and millions upon millions of people are clearly totally dissatisfied.
If you like the stock and not the computers, hang on to the stock, enjoy the products, and go away and buy yourself some Winblows computers and Android phones.
How pathetic it is to stick around here and go on and on and on whining about products your don’t like.