Monday July 23, 2018
Home World Apple to be w...

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

0
//
55
Apple
Customers and employees are shown through Apple's Australian flagship store in Sydney, September 7, 2016. REUTERS/Jason Reed
Republish
Reprint

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.

NewsGram brings to you current foreign news from all over the world.

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.

NewsGram brings to you top news around the world today.

“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)

Click here for reuse options!
Copyright 2017 NewsGram

Next Story

Apple’s Head Of Search and Head of Siri’s Advanced Development quits Amidst Siri Reshuffle

According to a report in The Information on Thursday, Apple has confirmed both the departures

0
Apple's
According to a report in The Information on Thursday, Apple has confirmed both the departures. Pixabay

Apple’s Head of Search Vipul Ved Prakash and Tom Gruber, Head of Siri’s Advanced Development Group, have quit the company which is currently reshuffling its Siri team.

According to a report in The Information on Thursday, Apple has confirmed both the departures.

One of the original Siri co-founders, Gruber “will be pursuing personal interests in photography and ocean conservation”.

Prakash joined Apple in 2013 after Apple acquired the search engine and analytics firm Topsy where he served as a CEO.

“The deal was valued at upwards of $224 million. Apple shut down Topsy two years after its acquisition,” reports 9to5mac.com.

Revealing its future plans, Apple last week formally announced to make ex-Google executive John Giannandrea its Chief of Machine Learning (ML) and Artificial Intelligence (AI) Strategy.

Apple's
Apple has invested in Siri and HomeKit to compete with Google Home and Alexa-based smart home systems. Flickr

Reporting to CEO Tim Cook, Giannandrea who joined Apple in April will be in charge of Apple’s ML division, Siri and the Core ML team.

Giannandrea will look after further development of Core ML and Siri technologies.

According to media reports, Apple lags behind from Google and Amazon in key AI areas like Natural Language Processing (NLP) and computer vision needed to power voice assistant features in Siri.

Apple has invested in Siri and HomeKit to compete with Google Home and Alexa-based smart home systems.

Also Read-Apple Gets a New AI Chief to Oversee Siri, Machine Learning

In 2017, Apple added an AI chip called Neural Engine to the A11 Bionic for the iPhone 8, iPhone 8 Plus and iPhone X to work with the Image Signal Processor (ISP). (IANS)