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Apple stock jumped over 87% last year fueled by the company’s strong fundamentals including new products unveiled late last year.
Apple Inc (NASDAQ: AAPL) stock closed yesterday trading at $134.50, up 1.87%. Apple stock is headed to reclaim the all-time high after yesterday’s breakout. Despite the strong fundamentals aspects, TFI analyst Ming-Chi Kuo suggests the company could back away from its iPhone 12 Mini due to low demand in comparison to higher-end gadgets released last year.
In a note to investors, Kuo noted that Apple could unveil four different models with significant improvements in camera resolution. He further predicted that the devices could come in two different screen sizes; a 6.7-inch phone and a 6.1-inch phone.
“We believe that the camera quality of the new 2H22 iPhone will elevate mobile phone camera photography to a new level,” Kuo wrote.
Possibly, Kuo suggested that Apple could use new image sensors that are supplied by Sony in the 2022 devices. Notably, Apple is looking to unveil products that can output video at 8k resolution and take 48-megapixel photos.
Apple (AAPL) Stock and Notable Fundamentals
Apple (AAPL) stock jumped over 87% last year, fueled by the company’s strong fundamentals including new products unveiled late last year.
However, the competition especially in the high-end smartphones has increased as more Asian companies including Samsung, and Huawei produces cheaper and quality products. Hereby raising the competition in the global smartphone shipment industry.
Apple is currently preparing to hold its annual event on April 20, when it is expected to unveil new products. Some of the expected products to be unveiled during the upcoming event include Apple iPad Pro 12.9 inch and 11inch. Besides, the company is also expected to launch Apple AirTags, Apple Silicon iMac, and Apple iPad mini.
The new devices are expected to cater to low demand especially in the iPhone 12 Mini that is reportedly not doing well in the Asian market. An earlier report by Consumer Intelligence Research Partners (CIRP) suggested that the iPhone 12 models accounted for 76% of new iPhone sales during the October through November period. However, the iPhone 12 mini models made a poor debut in the same period.
“The new iPhone mini likely disappointed Apple with only 6% of sales in the period,” said Mike Levin, CIRP Partner, and co-founder. “It has most of the same features as the other iPhone 12 models, in a smaller form factor for $699. Its share was just above that of iPhone XR, launched in 2018 and now priced at $499, the one-year-old iPhone 11, now selling for $599, and the 2nd generation iPhone SE, launched in April 2020 at $399. It seems that its higher price point compared to those three models limited the iPhone 12 mini appeal.”
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