By
Godfrey Benjamin
April 18th, 2024
Apple (AAPL) stock is trading at around $344 today. The company is preparing to announce a shift to its own main processors in Mac computers during its annual Worldwide Developers Conference.
Apple Inc (NASDAQ: AAPL) is preparing to wow its consumers with fine-tuned cutting-edge technology in the updates of its devices, probably late this year or early next year. With a competitor phone manufacturing company Samsung Electronics Co Ltd (KRX: 005930) already ahead in its device release, a lot of hype around the next generation of Apple products, including Mac computers, has given Wall Street traders confidence in its stock market.
As a result, its shares have been rising fast to set a record of a new ATH. Trading around $344 at the time of writing, the bulls seem to be in control both in the short time frames and in the large time frames.
Shareholders in the company will see their portfolios steadily grow amid the coronavirus pandemic, as several fundamentals favor them. In the past six months, the AAPL shares have risen by 15.20%, making it a strong recovery from the coronavirus stock free fall.
The shares are up over 4.60% in the past five days and also up 8.63% in the last one month. With a 1.45 trillion market cap, the company’s balance sheet is strong to handle the covid-19 market disruption. In the past 52 weeks, the shares ranged between 190.30 and 342.22, whereby they are set to break the high and make a new high.
News from Apple: Updated iPhones and Mac Computers
Apparently, the awaited iPhone 12 devices are said to unveil the 5G network to compete with other mobile manufacturers in the market. Besides, people close to the company have disclosed to various media outlets the expected designs and technology in place, hence heightening the hype.
In addition, the media outlet reported that the company is preparing to announce a shift to its main processors in Mac computers, therefore replacing Intel chips. It is anticipated the company will announce the news during this year’s annual developers’ conference, which is meant to take place virtually on the week of June 22 due to the coronavirus pandemic.
According to Bloomberg, the processors will be based on the same technology that is used in the iPhone. However, the processors will run on the macOS software instead of iOS. If the company makes the move, it might negatively impact Intel in future, as Apple is a major market player and their decision cannot be ignored by other companies depending on Intel to produce chips. Intel Corporation (NASDAQ: INTC) stock is down 1% at the time of reporting and is trading at around $63.05.