Saturday March 23, 2019
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
//
Apple
Customers and employees are shown through Apple's Australian flagship store in Sydney, September 7, 2016. REUTERS/Jason Reed

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)

Next Story

Apple Unveils New AirPods Designed to Deliver More Talk Time

With this feature one would be able to change songs, make a call, adjust the volume or get directions while keeping their hands in pockets

0
Apple, women
The Apple logo is shown outside the company's Worldwide Developers Conference in San Francisco, California. VOA

Introducing its second generation of wireless headphones, Apple on Wednesday launched new AirPods designed to deliver more talk time.

The new AirPods come with either a standard charging case or a new wireless charging case.

Apple said the AirPods with standard charging case will be available for Rs 14,900 and those with wireless charging case for Rs 18,900.

They will be available to order through Apple authorised resellers later this spring, the company said.

Representational image
Representational image. Pixabay

Powered by Apple-designed H1 chip, developed specifically for headphones, the new AirPods now feature the convenience of “Hey Siri” – meaning users could invoke the assistant without touching the earbud.

With this feature one would be able to change songs, make a call, adjust the volume or get directions while keeping their hands in pockets.

Also Read- Social Media Sites to Axe Content in 3 Hours: Report

“The world’s best wireless headphones just got even better with the new AirPods. They are powered by the new Apple-designed H1 chip which brings an extra hour of talk time, faster connections, hands-free ‘Hey Siri’ and the convenience of a new wireless battery case,” said Phil Schiller, Apple’s Senior Vice President of Worldwide Marketing. (IANS)