Apple Inc.’s (AAPL) sales grew very little, and its profit fell by 13% in its latest quarter. The company however projected revenue for the current quarter that topped analysts’ estimates. Apple’s stock jumped 4%.
Apple (AAPL) is releasing earnings today and it’s one of the most anticipated reports of the season. Can the company curb its iPhone sales decline, and how will they approach the smartphone maturing industry moving forward?
While we’re still waiting for Apple’s Earning Report, a new report says that all three new iPhones will support 5G. Analyst Ming-Chi Kuo noted that Apple has more resources for developing the 5G iPhone after the acquisition of Intel baseband business.
The Apple Card, a high-profile credit card partnership between Goldman Sachs and Apple, is scheduled to launch in the first two weeks of August.
Apple unveiled its plans to release its new generation iPhones enabled with 5G network in 2020 but there is no mention of cryptocurrency anywhere among the new releases. Meanwhile, AAPL aims to display strength nearing next earnings release.
Evercore analysts think Apple (APPL) stock is undervalued but believe the company can continue to drive strong momentum in services while increasing average selling prices to partially offset iPhone unit declines.
On June 3 Apple is going to announce its latest innovations at the Worldwide Developers Conference in San Jose, California. Don’t expect new iPhone, but be ready for the new iOS, different approach to apps, breakup of the iTunes and probably new Mac.
On Tuesday, a Judge from the International Trade Commission charged Apple of infringing the Qualcomm patent. The final decision from the ITC will come by July 18.
It was expected that Apple’s Special Event would lead to sales increase and jump of shares’ price, but the effect was converse. The price decreased by 2 percent to $187,37 per share.
Apple will unveil its new streaming video service on Monday. Wedbush analyst Dan Ives raised his price target for the stock from $200 to $215. He expects Apple’s streaming video service to reach 100 million subscribers within five years.