Apple stock price hits record high in anticipation of WWDC headset launch

AppleInsiderAppleInsider
Posted:
in General Discussion edited June 2023
In the last hours before WWDC's opening keynote presentation, shares in Apple got a boost from early trading to hit an all-time record high.

An Apple Store logo
An Apple Store logo

Shares and market valuation of Apple dipped throughout 2022 and early 2023, from its high of $3 trillion in 2021. The decline is believed to have been because of supply constraints for the iPhone 14 Pro, among other devices.

Now according to Reuters, Apple remains below $3 trillion, but in early hours trading, it rose to a record high for the first time around January 2022.

Apple shares were up 1.2% to reach $183.25. While the current rise is attributable to WWDC expectations, though, the stock has generally been recovering throughout 2023.

Where Standard & Poor's benchmark figure has risen 11.5% over the course of 2023 so far, Apple's shares have risen almost 40%.

Last-minute plausible leaks show have listed expected specifications for Apple's headset. The device itself will be announced during the company's opening keynote presentation.

Read on AppleInsider

Comments

  • Reply 1 of 12
    chutzpahchutzpah Posts: 392member
    I cashed out.  Maybe I'll regret it, but I'm expecting a slump after the event.
  • Reply 2 of 12
    waveparticlewaveparticle Posts: 1,497member
    chutzpah said:
    I cashed out.  Maybe I'll regret it, but I'm expecting a slump after the event.
    If investor believe it is AI related, AAPL will jump to $200. 
    watto_cobra
  • Reply 3 of 12
    chutzpahchutzpah Posts: 392member
    waveparticle said:
    chutzpah said:
    I cashed out.  Maybe I'll regret it, but I'm expecting a slump after the event.
    If investor believe it is AI related, AAPL will jump to $200. 
    I look forward to seeing your financial analysis and justification for that figure.
  • Reply 4 of 12
    coolfactorcoolfactor Posts: 2,243member
    chutzpah said:
    I cashed out.  Maybe I'll regret it, but I'm expecting a slump after the event.

    You recently dropped all of your AAPL stock? Wow, feel the hurt coming...

    dewmewatto_cobra
  • Reply 5 of 12
    chutzpahchutzpah Posts: 392member
    Hurtin' so bad...
  • Reply 6 of 12
    ciacia Posts: 252member
    It is hilarious looking at the 1 day chart for Apple. You can see the moment they started talking about the headset (DROP), and then the moment they mentioned the price.  (Instant 16 billion dollar loss)


    /edit. Also it's great that Apple used every AI buzzword out there, but never once actually said the term "AI".  Not once.  Just "Machine learning", "Large Language Model" and "Neural Engine Optimized" etc etc
    edited June 2023 danox
  • Reply 7 of 12
    eightzeroeightzero Posts: 3,066member
    FWIW, and my $.02 only: hardly anything at the keynote was a product for me. The 15" MBA is nice, and the OS updates have 2-3 new things I will use. But...overall I think the products announced are all fantastic, and represent less forward in computer technology. Thus, the most valuable item I take away from today is...my AAPL stock. Apple is a R&D leader. As a consumer, I want a new AirPort and an Apple TV with a coax antenna cable port on the back to feed internal OTA tuners. Those things aren't gonna happen...and the latter is good for my AAPL stock.

    As something of an aside, I started to ponder if those beastly pro machines (the studio and the MP) have a chip (GPS?) embedded in them to be sure they can't be used in North Korea (or elsewhere.) Those things all have to be export controlled, and would bring a pretty penny (won) to someone making something...well...that violates the Apple T&Cs.

    I did note that the Vision Pro was being introduced as a consumer device, but it is the industry applications that are likely to be a lot of the sales. I can see a police and military version being sold. ("Where you want the round, Sarge?") I still don't know if I can use the Vision Pro, as I have a vision impairment requiring corrective lenses, and I can't use contacts. One of those 5000 patents mentioned almost for sure has to be on those Zeiss lenses shown for 5 seconds or so, so no third parties will be able to grind my Rx; and I'll bet Rx lenses are gonna start at about $500 (and will not be covered by insurance.) Meaning...until you buy those Zeiss lenses, trying the thing in the store is going to be somewhat...limited in value.

    YMMV. 
    edited June 2023 jony0
  • Reply 8 of 12
    danoxdanox Posts: 2,862member
    cia said:
    It is hilarious looking at the 1 day chart for Apple. You can see the moment they started talking about the headset (DROP), and then the moment they mentioned the price.  (Instant 16 billion dollar loss)


    /edit. Also it's great that Apple used every AI buzzword out there, but never once actually said the term "AI".  Not once.  Just "Machine learning", "Large Language Model" and "Neural Engine Optimized" etc etc
    Apple’s need to take lessons from the rest of the tech companies who use that word “AI” incessantly as a buzzword….of nothing, Apple is in a better spot, they have just created a whole new ecosystem, that can be used by developers large/small and the public at large.
    edited June 2023 ronn
  • Reply 9 of 12
    davidwdavidw Posts: 2,053member
    FYI

    The fact that Apple hit the $3T market cap when AAPL reached $183 in 2021 and is still $100B short of the $3T mark this time it hit $183, is because of all the shares of AAPL that Apple bought back since 2021. There are less outstanding shares of AAPL now, than in 2021. This why market cap comparison between companies is only of value when comparisons are made in the same point in time. Any comparisons made with past market cap numbers gets distorted by buy backs and new shares issued, if they result in a significant change in the number of outstanding shares.

    One can not state that Apple is "worth" $100B less now at $183 a share and a market cap of $2.9T, than it was in 2021 at $183 a share and a market cap of $3T. 
    edited June 2023 ronn
  • Reply 10 of 12
    ktappektappe Posts: 824member
    Shares got higher than $183. I sold 1/5 of my shares this morning at $184.18.  Expect to buy them back later in the week for a notable profit.
  • Reply 11 of 12
    chutzpahchutzpah Posts: 392member
    davidw said:

    One can not state that Apple is "worth" $100B less now at $183 a share and a market cap of $2.9T, than it was in 2021 at $183 a share and a market cap of $3T. 
    You absolutely can and should say that.  Apple spent $100bn, that’s $100bn less cash that they have (or $100bn more debt that they have). You are worth less if you have less.
  • Reply 12 of 12
    davidwdavidw Posts: 2,053member
    chutzpah said:
    davidw said:

    One can not state that Apple is "worth" $100B less now at $183 a share and a market cap of $2.9T, than it was in 2021 at $183 a share and a market cap of $3T. 
    You absolutely can and should say that.  Apple spent $100bn, that’s $100bn less cash that they have (or $100bn more debt that they have). You are worth less if you have less.
    NO, Apple is carrying the a little less debt now, than it had in 2021.

    In 2021 Apple had about $109B in long term debt.

    As of last quarter, Apple is now carrying about $97B in long term debt


    By your logic, Apple should be "worth" more now because they are carrying $12B less in debt, than the last time AAPL hit $183 a share (in 2021).

    AND Apple cash on hand in 2021 was $63B and as of last quarter. it's now about $56B.


    Show us where Apple lost $100B of "worth", besides using market cap valuation. Now if Apple was now carrying $200B in debt vs $109B in 2021,  then you might have a case that Apple is now "worth" $100B less at $183 a share than when it hit $183 a share in 2021.

    BTW- Apple net income has not changed much either. In 2021, Apple had a net income of about $95B and in the past 12 months, Apple net income came to about $94B.

    https://www.macrotrends.net/stocks/charts/AAPL/apple/net-income

    edited June 2023
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