Shares of Apple end week at all-time high with 'iPhone 6' & 'iWatch' hype at fever pitch
Apple stock reached an all-time high in trading on Friday, and also finished the day at its highest-ever closing price, as investors and customers alike are clamoring to see what the secretive company has up its sleeve for a Sept. 9 media event.
Shares of AAPL stock closed the day on Friday at $102.50, which is a new record. Intraday trading also reached $102.90.
The company's stock trended upward since Wednesday as anticipation builds for the its event now less than a week and a half away. Though the date had already leaked, Apple made it official on Thursday, sending out invitations to members of the press for a Sept. 9 event in Cupertino, Calif.
The company is widely expected to use the event to formally unveil its next-generation "iPhone 6," as well as an all-new wearable "iWatch." Wall Street is particularly excited about the next iPhone, as Apple's hot selling handsets account for the lion's share of the company's profits.
Less certain is how a so-called "iWatch" might affect the company's bottom line, but investors may have to wait to find out: Though Apple's wearable device is expected to be revealed Sept. 9, the latest rumors suggest the device may not be ready to launch until early 2015.
Apple's current trading price has the company's market capitalization valued at $613.76 billion, which remains well behind its highest-ever market capitalization of over $665 billion. Apple's gains have also seen it nearly double its value from a 52-week low of $63.89, which occurred in September of 2013.
The company crossed the $100 threshold on Aug. 19, reaching levels the company had not seen since its previous all-time high in 2012, ahead of the iPhone 5 launch.
Shares of AAPL stock closed the day on Friday at $102.50, which is a new record. Intraday trading also reached $102.90.
The company's stock trended upward since Wednesday as anticipation builds for the its event now less than a week and a half away. Though the date had already leaked, Apple made it official on Thursday, sending out invitations to members of the press for a Sept. 9 event in Cupertino, Calif.
The company is widely expected to use the event to formally unveil its next-generation "iPhone 6," as well as an all-new wearable "iWatch." Wall Street is particularly excited about the next iPhone, as Apple's hot selling handsets account for the lion's share of the company's profits.
Less certain is how a so-called "iWatch" might affect the company's bottom line, but investors may have to wait to find out: Though Apple's wearable device is expected to be revealed Sept. 9, the latest rumors suggest the device may not be ready to launch until early 2015.
Apple's current trading price has the company's market capitalization valued at $613.76 billion, which remains well behind its highest-ever market capitalization of over $665 billion. Apple's gains have also seen it nearly double its value from a 52-week low of $63.89, which occurred in September of 2013.
The company crossed the $100 threshold on Aug. 19, reaching levels the company had not seen since its previous all-time high in 2012, ahead of the iPhone 5 launch.
Comments
In other words, wait till after Sept.9 to buy, when traditionally Apple stock drops significantly.
Where are all the Android trolls from last year predicting Apple is sliding into the toilet?
If it traded at just the market's multiple, AAPL should be at $~120. Go figure.
I know I should sell at least some of my APPL on Monday.
The internet trolls/Business Insider/CNBC/etc will complain about WHATEVER Apple releases, and APPL will go down after all this wild optimism.
But eventually calmer minds will realize that Apple makes stuff that people love. And APPL will go back up.
So I'm long. I just can't bring myself to sell quality. HOLDing APPL lol.
Where are all the Android trolls from last year predicting Apple is sliding into the toilet?
Same place as all the Apple trolls that stated the reason Apple was sliding into the toilet was because of market manipulation by Wall Street.
Yup. But sell Monday, and buy back cheap on Wednesday.
I've been long since 2004, but still haven't had the balls though.
Apples market cap is affected by their own buyout program? Right? Had they not bought back their own shares they'd be higher?
There's no telling since all we really know is where the price is today, but by reducing the number of shares it theoretically drives the price of shares up. Supply and demand.
Yup. But sell Monday, and buy back cheap on Wednesday.
I've been long since 2004, but still haven't had the balls though.
Jason, I also don't have the stones to sell on Monday.
I'll just let it ride....
No, it does not. If your argument were true, the optimal strategy for all companies would be to buy out all the shares they can all the time with all the cash they have.
Very, very few companies are ever in a position to pull this off.
Edit: There is also the tax issue. When Apple cuts a dividend check, taxes become applicable on the dividend. When it buys back its own shares, there is no tax.
I'm up 40% on my last purchase. It's freakin' awesome!
If you've been paying attention the last few years, apple stock has not taken a precipitous dive after a major announcement. I don't expect it to this year, either.
I'm up 40% on my last purchase. It's freakin' awesome!
It is pretty awesome, isn't it? My last purchase is up 730+% so far. 2008 was a very good year to go all in.
Wrong. Apple is in an unusual position. It's stock is extremely undervalued and it has a ton of cash, with more being generated by the minute. Buying back its own stock is tantamount to investing in itself. The result is to decrease the share count, which increases the potential dividend return of the remaining shares.
Very, very few companies are ever in a position to pull this off.
Edit: There is also the tax issue. When Apple cuts a dividend check, taxes become applicable on the dividend. When it buys back its own shares, there is no tax.
Nice to see you post here, SJ. I usually see your posts on the PED boards over at Forbes.
Of course.
I guess my initial purchase now at a 2233.33% gain isn't too shabby either