Apple shares hit record high as Wall Street gushes over iPhone X launch

“Apple shares are surging as Wall Street is growing more bullish on the smartphone maker’s iPhone X launch,” Tae Kim reports for CNBC. “The company reported better-than-expected September quarter earnings results and gave a December quarter sales guidance range above Wall Street expectations at the midpoint Thursday evening.”

“Apple shares are trading up 4 percent in Friday’s premarket session as notes poured in from Wall Street that were positive on last quarter’s earnings and even more optimistic about the iPhone X,” Kim reports. “If it opens at this level, the stock will trade at an all-time high.”

“Morgan Stanley is confident the new higher priced model will spur current iPhone users to upgrade,” Kim reports. “‘We see iPhone X unlocking pent-up iPhone upgrades, especially in China,’ analyst Katy Huberty wrote Friday. ‘Near-term, we see pent-up demand heading into a significant form factor change that is likely to accelerate iPhone unit growth.’ Huberty reaffirmed her overweight rating and raised her price target to $200 from $199 for Apple shares.”

Read more in the full article here.

MacDailyNews Take: Apple. Charting heretofore unseen territory. As usual.

SEE ALSO:
Apple market cap tops $900 billion after hours trading – November 2, 2017
MacDailyNews presents live notes from Apple’s Q417 conference call – November 2, 2017
Apple easily beats the Street with revenue of $52.6 billion, shares surge – November 2, 2017

20 Comments

  1. AAPL is obviously dooooomed. Nobody will buy an iPhoneX. Ignore the lines. Ignore the 10k……..mmmmkay sell allllll….!! LOL!!
    Michael Blair, Doug Kass…..where are you guys???

    GLTA!!!!

    1. American has been great from the beginning. There is no way a person like Trump and his twisted appointees can improve our country.

      The employment situation has been improving since we began pulling out of the deep recession early in the Obama Administration. The trend lines for unemployment are consistent for over seven years. Trump has done nothing to change this for the better.

      By the way, if this massive tax cut for the rich actually gets passed, then the deficit will soar, inflation will grow, and jobs will be lost. You don’t stimulate an economy with borrowed money when you are running a large deficit, increasing defense spending, and have historically low unemployment rates.

      Stupidity reigns in the modern Republican Party – absolutely no respect for sound fiscal policy anymore.

    2. Well, botty, that historically low unemployment rate occurred at the end of the *Clinton* Administration! Remember him?

      Then things seemed to fall apart during the next Administration…the Republican. Bush…that’s it!

      Obama inherited a complete disaster from Bush – two long term wars, a terrible recession on the verge of a Depression. But things gradually got better over eight years.

      Now we have another Republican to mess things up again. It is the 20-year American cycle.

      1. Newsweek is calling it right too. They are identifying the Trump administration as the most corrupt ever, and showing the facts to prove it. Trump’s unpaid blogger trolls can yell “Clinton” all they want, this administration is making America a backwards has-been nation with no middle class ruled by oligarchs and fear mongering. Thankfully we now know why so many internet trolls adore Trump — because that’s what their handlers told them to do.

        http://www.newsweek.com/2017/11/10/trump-administration-most-corrupt-history-698935.html

            1. Classic deflection. You don’t read anything that the Kremlin tells you not to. When you have a rational argument to offer, try again, bitter troll.

  2. Apple does get quite some stick and often rightly so but this does explain why the company likes to let things sit a little flat for some time so that they can launch a product that is a considerable move up from the previous models giving the line a big new sort of interest just as things start to look a little boring. If they had fed tech in piecemeal as most of the opposition do then fact is they would not have this present break out position with the launch of the iPhone X that those competitors would just love to have.

    So yes there is considerable logic to their tactics, but that doesn’t mean that they don’t mis-step and get things wrong at times with those tactics with some of their products, the AppleTV and much of the Mac line for example and of course there are the cases where that new product doesn’t quite garner the appreciation (or indeed the leap in perceived improvement) expected as with the MacBook Pro. Its always a balance but the up side can be hit by the downside at times especially if the opposition make better and quicker progress than expected which occurred with Digital Assistants for example. I do hope that the focus is now better than it has been in recent years with too many distractions it seems, or plain lazy thinking.

    1. And it rocks! Going from a 2013 15″ MBP to this new model is like night and day. With the new MBP, Apple caught lightning in a bottle.

      I absolutely love it! I am starting to adapt to the touch bar, although I do not use it much at my desk because I hook my MBP up to a large monitor with keyboard and mouse. That puts the touch bar farther away and to my left.

      I can state with assurance that the general griping about the new 15″ MBP with touch bar is total BS. It does cost more than I (or anyone else) would prefer. But it is an exquisite laptop.

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