Apple Stock Hits Near All-Time High as Investors Anticipate iPhone 13 Launch
Apple stock has surged back from a recent dip after its March-quarter earnings report, reaching a new all-time high on Wednesday. Investors are eagerly bidding up the tech giant’s stock ahead of its June-quarter earnings report, which is set to be released on July 27th.
JPMorgan analyst Samik Chatterjee recently advised investors that now is the time to buy Apple stock, highlighting visible catalysts for the second half of 2021. Chatterjee believes that iPhone 13 expectations are currently too conservative and predicts that Apple stock will outperform the broader market significantly in the coming months. He reaffirmed his overweight rating on Apple stock and raised his price target from $165 to $170.
Apple stock briefly touched a record high of $145.09 on January 25th but fell slightly to $144.89 on Wednesday. However, on Thursday, amidst a broader market decline, Apple stock closed the regular trading session down 0.9% at $143.24.
Industry insiders predict that the upcoming iPhone 13 will generate continued demand in the 5G market, thanks to improved Apple Silicon, longer battery life, and even more advanced camera systems. This super cycle of sales could further boost Apple’s revenue and solidify its position as a leader in the smartphone market.
Apple’s strong performance in the stock market reflects increased investor confidence in the company’s ability to deliver innovative and sought-after products. The tech giant’s stock surge is also a testament to its resilience in overcoming challenges and adapting to changing market conditions.
As investors eagerly await Apple’s upcoming earnings report, industry experts and analysts remain cautiously optimistic about the company’s future prospects. While there are always risks and uncertainties in the market, Apple’s track record of success and its loyal customer base continue to instill confidence among investors.
In conclusion, Apple stock’s upward trajectory and approaching all-time high demonstrate the anticipation surrounding the iPhone 13 launch and the positive outlook for the company’s earnings. Investors, encouraged by analyst recommendations and bullish market sentiment, are betting on Apple’s continued success in the second half of 2021 and beyond.
