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Technology

Apple Inc. Stock Update Today: iPhone Maker to Gain in Near Future

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Apple continues to impress investors with persistent innovation in its products

Since its inception, Apple Inc. (NASDAQ:AAPL) has wowed its investors with its stock momentum and even now, it continues to show signs of rise from its lows in the quarters to come. Apple is working on launching new products successfully in the second half of FY16. With these launches, the tech giant is expecting to attain all-time highs and to revive its slow sales growth of the first half of FY16.

First to come is Apple’s iPhone 7. The company is all set to launch the new phone on September 7 of this year, which is considered as a highly important launch for the company, as it is aimed at setting its path to the right place with high earnings. The phone is also expected to improve the sales growth numbers of the tech giant.

Furthermore, with net sales declining for MacBook Pro, the company is planning to upgrade its MacBook Pro line. The upgraded laptops are expected to be thinner with OLED touch-screen strip for the function keys. They will have more powerful graphic processors than the old computers. The $584.31 billion company is expected to bring finger print technology to its notebooks which previously only existed in iPhones. This would make its notebooks securer than ever before.

Also, the upgraded MacBooks are expected to be equipped with Apple’s latest operating software, Sierra. The notebooks are expected to be launched later this year after the release of new Apple Watch and iPhone 7.

Innovation for Apple does not seem to end here. The company is also developing hollow batteries for its new self-driving electrical car, which would result in better cost efficiencies for the company. The news has already impressed the investors and they are looking forward to reaping positive gains from the company. The new battery would give the company an edge over other electric cars in the market. The much hyped-car is expected to be release by FY20-21.

Based on these innovations and product launches, investors have their hopes high for the future of California-based company. The stock reflects an upside potential of 15% to be achieved in the next 90 days. Therefore, the investors are bullish on the stock. It is trading up in the market by 2.6% year-to-date through Wednesday. S&P 500 and Dow Jones also show an increasing trend and are trading up 3.94% and 6.13% respectively, on YTD basis.

The stock of the California-based company is traded within a daily range of $107.76-108.9. The 52-week range is maintained at $89.47-123.82. The analysts believe that the stock has the potential to reach as high as $180 by FY17. The total shares outstanding for Apple are 5.39 billion, out of which 24 million are traded in the active market session.

FactSet Fundamentals analysts also share positive sentiments for Apple and have maintained 34 Buy, five Overweight, three Hold, one Underweight, and two Sell ratings on the stock. The consensus price set on this iPhone-maker is $121.6, depicting a potential of 12.59% above the last close.

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