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Apple to be worth at least $824 billion in 2017 Benefiting from its expensive ‘plus’ models Rising demands of its products: Analysts

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Customers and employees are shown through Apple's Australian flagship store in Sydney, September 7, 2016. REUTERS/Jason Reed
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New York, April 18, 2017: Benefiting from its expensive ‘plus’ models and rising demands of its products, Apple Inc will be worth at least $824 billion this year, analysts have predicted.

Apple’s shares already soared more than 16 percent to fresh highs during the second quarter but analysts are optimistic the stock has much more room to grow, MarketWatch reported on Monday.

Canada-based global investment bank RBC Capital Markets on Monday lifted its 12-month price target to $157 from $155 and reiterated an outperform rating.

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That would increase Apple’s market capitalization to $824 billion from $740 billion currently. Apple’s stock hit a record high of $144.77 on April 4, the report said.

RBC analyst Amit Daryanani also increased his March-quarter iPhone estimates and fiscal 2017 revenue estimates, saying trends indicate consumer preference for Apple’s more expensive plus models, which have contributed positively to average selling prices.

While the company’s third-quarter outlook “could come modestly below estimates” as consumers delay planned upgrades ahead of the iPhone 8 launch in September, its large installed base and attractive valuation make it worthy of investment despite muted expectations.

Analyst at Pacific Crest Andy Hargreaves suggested that Apple is struggling with the optical fingerprint functionality expected on the OLED iPhone, which could lead to delays or the removal of it.

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“While this creates some risk of production delays, at this point we do not believe it materially threatens volume through the coming iPhone cycle,” Hargreaves was quoted as saying.

According to a report in USA Today, Apple co-founder Steve Wozniak believed that Apple, Google and Facebook will be bigger in 2075 and dominate the world.

Shares of Apple inched 0.6 per cent higher to $141.12 on Monday. The company will announce its earnings for the second fiscal quarter (first calendar quarter) of 2017 on May 2.

Apple had $246.1 billion cash at the end of its last fiscal quarter. (IANS)

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Apple Signs Multi-Series Order With Sesame Workshop

Apple partners 'Sesame Workshop' for original video content

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Apple Signs Multi-Series Order With Sesame Workshop. Pixabay

In an attempt to dive deeper into streaming original video content, Apple announced it has given a multi-series order to non-profit organisation named “Sesame Workshop” to create content, especially for children.

The announcement comes as a part of the iPhone-maker’s partnerships and show unveilings ranging from a reboot of Steven Spielberg’s “Amazing Stories” to a wide-ranging deal with Oprah Winfrey.

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Representational image. Pixabay

“‘Sesame Workshop’ will draw on their 50 years of expertise creating children’s programming to produce live action and animated series and to develop a puppet series,” CNET quoted Apple as saying late on Wednesday.

However, as per the report, “Sesame Street” is not part of Apple’s deal with “Sesame Workshop” which will otherwise offer a wide range of programming for all ages.

Also Read: Apple Brings FIFA World Cup Closer to You

So far, the Cupertin-based giant hasn’t revealed how it will make the shows available to viewers and whether or not it might launch its own streaming service to compete with the likes of Netflix, Amazon and Hulu. (IANS)