Apple stock near all-time high amid iPhone 13 expectations

Apple stock has come come roaring back from a swoon following its March-quarter earnings report. In fact, Apple stock on Wednesday hit a new all-time closing high. Investors have been bidding up Apple stock ahead of the company’s June-quarter earnings report, due July 27th.

Why Apple stock is struggling

Patrick Seitz for Investor’s Business Daily:

JPMorgan analyst Samik Chatterjee on Tuesday said it is “time to start buying” Apple stock as second-half 2021 catalysts are visible. In a note to clients, he said iPhone 13 expectations are too low.

Chatterjee expects Apple stock “to outperform the broader market materially” in the second half of the year after underperforming significantly during the first half. He reiterated his overweight rating on Apple stock and raised his price target to 170 from 165.

After hitting a record high of 145.09 on Jan. 25, Apple stock… rose as high as 144.89 [on Wednesday]. However, on the stock market today, Apple stock pulled back along with the broader market. It ended the regular session Thursday down 0.9% to 143.24.

MacDailyNews Take: iPhone 13 generate continued 5G supercycle sales by featuring improved Apple Silicon, battery life, and even more capable camera systems.

6 Comments

  1. iPhones are powerful enough now that you ought to be able to put them in a cradle like a Nintendo Switch and use them as a Mac. Leave your keyboard and TV at home when you go out. When you get home, everything backs up to your external 8 TB hard drive. And you can access that data remotely through the internet, so only your most important things need to be in the phone’s SSD.

    This would make iPhone users stop buying Windows.

    1. This is absolutely the direction for the industry. Apple has to figure out how to replace the lost Mac revenue. Only other obstacle is multi-display support. But, soon, your iPhone sitting in the room will be your computer. Connected via bluetooth, WiFi, and streaming. Seamless switch from iOS to MacOS.

      1. Anyone who wants multi-display support will likely want a processor that can’t fit in a phone. So I don’t think that is a problem at all. In any case, the latest iPad has Thunderbolt 3, and I believe that can handle multiple displays out of a single port.

    1. Some people just hate change and can’t cope with new ideas. We taught people to reject blind obedience, and now they embrace blind cynicism instead.

  2. The 10% hit to the stock after the earnings report will be the next buying opportunity, don’t expect the analyst prostitutes to mention it. They want you to buy now so they can dump later.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.