Apple (AAPL) Stock Slightly Down, iPhone 13 Expected on September 17

Apple Inc (NASDAQ: AAPL) stock closed yesterday trading at $148.36, down 0.86% from the day’s opening price. Meanwhile, AAPL stock was down approximately 0.03% in the extended trading period to trade around $148.31. Apple, the American tech giant, however, is preparing to launch its next iPhone series and the third generation of AirPods by the end of next month.

Although not officially confirmed, the launch of a new iPhone series among other products could significantly bolster its stock market during the third and fourth quarter.

Additionally, Apple stock expects to reap huge benefits from its App Store advertising revenue, according to Evercore ISI analyst Amit Daryanani. According to his estimates, Apple’s App Store revenue could spike to $20 billion up from $2 billion by the end of 2025. Daryanani estimated that ad revenue could constitute about 17% of the company’s services revenue and about 5% of total revenue by the end of 2025.

As a result, he gave Apple stock a price target of $180 and raised it to an outperform rating.

With a market capitalization of approximately $2.47 trillion at the time of reporting, Apple is well poised to take any opportunity that is brought forth by the Covid pandemic. Notably, AAPL shares have risen approximately 17%, 11%, and 16% in the past year, eight months, and three months respectively through Wednesday according to market analytics provided by MarketWatch. A study conducted by MarketWatch indicates 43 ratings had an average of Over rating on Apple stock.

Outlook on AAPL Stock amid Apple iPhone 13 Launch Plans

At the beginning of the year, Goldman Sachs analyst Rod Hall raised his rating for Apple shares from sell to hold. According to him, his metrics on iPhone sales during the pandemic have significantly been nullified by huge sales recorded for the latest devices. Late last year, the company launched its 5G enabled devices to compete with other products from its competitors including Samsung and Huawei.

Consequently, the sales significantly surpassed expectations, especially considering the fact that smartphone shipments had declined. Hall has, however, put his price target for the company at $140 per share.

As the competition in the smartphone industry heightens during the pandemic, Apple is keen to update its devices to keep its customers thrilled all through. Reportedly, the iPhone 13 is expected to have some updates on the camera. Whereby analysts expect the updates to feature Portrait Mode and ProRes for video options.