Apple Stock
Apple Inc. May Target $1.0-Trillion Mark in 2017
Apple Inc. (NASDAQ:AAPL) is the most valuable consumer technology company in the world, sitting on a market capitalization of about $700.0 billion. With products like the "iPhone," "Mac," "iPod," "Apple Watch," and "Apple TV," and service offerings like "iTunes," "iCloud," and "Apple Pay," Apple Inc. has built a formidable ecosystem that keeps its customers engaged. The smartphone maker has more than a billion active devices around the world and has a lot to prove in the year 2017. AAPL stock is expected to touch new highs in the coming year.
The year 2016 was the time when it became clear that the Apple juggernaut may not be sustained on the shoulders of its iconic smartphone alone. Sales of the iPhone declined for the first time and investors started getting jittery, sending Apple stock into a downward spiral. However, as the new year 2017 begins, AAPL stock appears to be resurgent on bullish sentiments surrounding the growth in the company’s "Services" business.
Moreover, expectations are high on the release of the next generation iPhone to be launched in the fall of 2017. As Tim Cook has hinted at on multiple occasions in the past, Apple seems to be betting big on the technology of the future—Augmented Reality (AR). There is excitement surrounding the new Apple iPhones, which are likely to be AR-capable, and this is expected to provide a big boost to both iPhone sales and Apple Services in the new year.
Apple stock investors would also keep an eye on what’s happening with the Apple Watch and Apple TV. With the renewed focus on services, Apple Inc. has started the year 2017 on a high note.
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From: Michael Lombardi, MBA