Apple just became the first American public company to cross $1 trillion in value.
The iPhone maker achieved that big number on Thursday when the stock passed $207.04 a share. Its new all-time high is $207.05. Apple is now up more than 20% this year.
Shares surged after Apple reported earnings that topped forecasts and a healthy outlook on Wednesday.
Even though some think Apple (AAPL) needs a new product to keep sales and profits booming, Apple has rallied past the trillion level thanks to solid sales of the iPhone 8 and X — particularly in China and Japan — and surging services revenue from the App Store.
Related: Apple is showering its investors with cash
Wall Street thinks Apple could go even higher. Thirteen analysts have a price target of above $225 for Apple. The most bullish, Brian White of Monness, Crespi, Hardt & Co., has a price target of $275 a share. That would value Apple at $1.3 trillion.
Apple is benefiting from investor euphoria surrounding the tech sector broadly as well — and it could soon have company in the trillion dollar club.
Amazon (AMZN), Google owner Alphabet (GOOGL) and Microsoft (MSFT) have all rallied to near record highs this year, too. Amazon is worth nearly $900 billion while Google and Microsoft are each now worth more than $800 billion.
Apple is not the first publicly traded company in the world to surpass the trillion dollar mark though.
Apple’s annual Worldwide Developers Conference kicked off today with one of its big product-unveiling keynotes. Here are the most important announcements Apple made, in roughly chronological order.
The big picture
As Apple’s iPhone App Store approaches its 10th birthday next month, and Apple’s Services business — including the App Store — represents one of its fastest-growing businesses, app developers remain one of the company’s most important constituencies. There are 20 million developers around the world, and only a few thousand are in attendance today. Apple CEO Tim Cook says cumulative developer earnings will pass $100 billion next week.
Read full article here.
Apple is about to kick off its most important event in years.
The company is expected to announce new iPhones — including a high-end device, potentially called the iPhone X — plus a new Apple Watch and Apple TV device, and maybe some more information about its HomePod speakers. It’s the first-ever press event at the company’s new Steve Jobs Theater, part of its recently opened Apple Park “spaceship” campus in Cupertino, Calif.
The keynote kicks off today, Tuesday, Sept. 12 at 10 am PT, 1 pm ET. (That’s 6 pm in London and 1 am Wednesday in Hong Kong.) Recode will be in attendance, and will cover the event — click here for the latest. Other live coverage options include The Verge and Six Colors.
Apple plans to livestream the event on its website and via its devices, but you’ll need to use one that’s compatible with its livestreaming technology. These include: “iPhone, iPad, or iPod touch with Safari on iOS 9.0 or later, a Mac with Safari on macOS v10.11 or later, or a PC with Microsoft Edge on Windows 10.” You can also use an Apple TV streaming device, provided it’s a second- or third-generation device with software 6.2 or later or the latest, fourth-generation Apple TV.
Apple is finally slated to reveal the highly-anticipated deluxe anniversary iPhone on Sept. 12, and you will want to buy it immediately — but the sticker price could wind up dampening your excitement for the phone’s next-gen features.
Leaker Benjamin Geskin tweeted out a pricing tier for the new iPhones, citing information from a friend who has a friend at Apple.
A New York Times report also backed the idea of a starting price “around $999,” for the iPhone, citing anonymous sources who had been briefed on the device. That’s a much more reliable report than just the whispers of friend of a friend — but others aren’t so convinced that Apple will ask such a high price for a phone.
UBS analysts Steven Milunovich and Benjamim Wilson wrote in an investors note that they “questioned the logic” of Apple putting such a premium on an iPhone. They claim instead that the company will roll out the deluxe device at a $900 starting point for a 64GB model, with a 256GB version eclipsing the $1,000 mark.
The analysts also noted that Apple typically takes some cues from its competitors, and with Samsung’s latest offerings starting well under $1,000 — the new Galaxy Note 8 starts at $930 unlocked — there’s little incentive for Apple to set the bar any higher.
None of these projections questioned the features expected in the deluxe iPhone, which include a new edge-to-edge OLED display, a nearly bezel-free screen with no home button, and a new sensor system for facial recognition.
Speculation over the price of the iPhone is nothing new for the rumor cycle, with reports flying about the extra costs for as long as there have been rumors about a new OLED screen. Now that we’re a week away from the big reveal, however, those projected costs are all the more pressing, since we’re finally closer to getting a shot to put down the cash for one of our own.
After months of beta testing, Apple has finally released the first official version of iOS 10.
The update brings Siri to third-party apps and supercharges Messages with a lot of new superpowers. Siri and Messages may be the stars of iOS 10, but there are still plenty of new features to get excited about — even if they aren’t immediately obvious.
See the full list of hidden features HERE.
Wow. Just Wow. Read full article here.