Apple’s guidance cheers Wall Street; stock poised to retake trillion-dollar market value

Kit Rees and Joe Easton for BloombergQuint:

Apple’s guidance for the all-important September quarter cheered Wall Street amid concerns about the impact on sales from the U.S.-China trade war and increasing competition from smartphone rivals.

Goldman Sachs and Piper Jaffray raised their price targets… The shares jumped 4.3% in pre-market trading on Wednesday. The gain could push the company’s market value back above $1 trillion, depending on the number of shares Apple had outstanding at the end of the quarter. Apple is approaching a year-to-date high reached in May…

[Wedbush analyst Daniel Ives wrote]: Overall, would characterize this quarter/guidance as a “major feather in the cap for the bulls,” that should drive the stock to new highs over the coming months.

MacDailyNews Take: Trillion-dollar market cap, here we come again!

3 Comments

    1. Pipeline Timmy can be successful — Apple is a profit machine, even if he did nothing — just not to the the same degree as a charismatic CEO with vision would be.

    2. Steve Jobs had a name for inept commenters like this, prior CEOs of Apple (and record executives of the early 2000s…. BOZOS! Tim is doing just great, Thank you.

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