By
Godfrey Benjamin
April 23rd, 2024
Apple (AAPL) stock is doing quite well these days. This comes as good news after the iPhone maker was taking one beating after another at the stock market.
Apple Inc (NASDAQ: AAPL) stock price seems to be going up in recent times. Sources say that the stock price went up by about 5.05% at the last trading session. It reached $287.05. Today in the pre-market, however, the stock price is falling. It is 2% down. This price increase comes at a time when the Cupertino California technology giant has a steadily improving market in China, which can be one often reasons for Apple stock increase. Things have been bad for Apple in recent months. The coronavirus situation had put a lid on exponential rises in profits. This also caused the iPhone maker to revise its profit expectations for this quarter downwards.
This led to everyone expecting the worst. As the financial markets slid, Apple (AAPL) stock price followed suit. However, the recent recovery comes as the data from China confirms hopes of a quick recovery despite the COVID-19 pandemic.
Reasons for Apple (AAPL) Stock Prices Rise, Increase in iPhone Shipments
Sources say that about 2.5 million units of iPhones have been shipped in China to buyers. This is a big difference to the 500,000 units that were shipped in February.
There are indications that this figure is set to improve as the Chinese economy gets out of situ. It is widely believed that Apple could ship as many as 197,000,000 phones this year alone. This is dependent on how the coronavirus situation unfolds.
It also puts to rest the question of the sort of recovery that we should all expect. Many people have said an L-shaped recovery is possible for the US economy among others. It seems that a V-shaped economy is more likely. This comes as the Chinese are coming out of the ashes created by the coronavirus situation.
There are also several reasons to expect a full recovery this time round for Apple (AAPL ) stock prices. The iPhone maker is expected to keep the hits coming as far as its phenomenally successful iPhone brand is concerned.
Sources indicate that Apple is set to introduce about 4 new iPhone models into its cachet of best selling phones of the same name.
Low-Cost iPhone Is to Be Expected
Among the new phones to be expected is a low-cost iPhone SE that seeks to compete directly with Android hardware manufacturers. These mobile phone makers own a substantial market share of the smartphone market as opposed to others.
5G is also another season for Apple users to be excited. The emergence of 5G enabled phones will allow for new end-user experiences. This also gives the technology giant a much-needed boost when it comes to the 5G race.
Apple has also contributed to the ongoing contact tracing efforts as regards the COVID-19 situation. Sources say that Apple has released anonymous data to government officials. Alphabet seems to be doing that as well with Google‘s Android OS. The two technology giants also seem to have signed a partnership on this issue as well.
As the COVID-19 pandemic continues, volatility in the value of stocks is to be expected by just about everybody. Once the dust settles, technology companies will certainly lead the expected economic recovery. Apple (AAPL) will take its place at the head of the pack.