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Apple Inc. (NASDAQ:AAPL) Stocks And Other News

Written by on June 8, 2015

As Apple Inc. (NASDAQ:AAPL)‘s Worldwide Developers Conference gets underway today, the Apple stock has held remarkably steady over the past three months.

It’s only when you look at the year-to-date (YTD) movements, you see that the stock has risen by more than 13.00% , compared to the S&P 500 index which gained only about 1.41% and the Dow Jones Index which has held steady more or less on a YTD basis.

The Apple stock ended the day today at $127.80 and its high point this year was $133 which it reached on February 23 while the lowest point for the stock this year was $105.99 which it reached on January 16.

Apple WWDC News

Apple came out with the expected goodies during the WWDC Keynote. It was historic in that there were two women presenters, a first for Apple WWDCs which was in its 26th edition this year.

WWDC Apple 100 Billion App Downloads

WWDC Apple 100 Billion App Downloads

Apple came out with a new edition of its Mac OS X operating system called El Capitan which promises faster speeds and enhanced search capabilities.

Apple launched its long-awaited Apple Music service following its acquisition of Beats Music last year. Apple Music will be $10 a month for a single user and $15 per month for a family of six and it will be free for three months. Apple Music launches in over 100 countries on June 30.

Apple came out with a new News app in partnership with publishers such as The New York Times, Quartz, etc.  You will be able to read 30 articles per day by accessing the NYT using Apple News which is quite generous. The News app will be built into iOS 9 which will release later this year.

Apple developers got a lot of goodies such as native access to the Apple WatchKit and a combined fee of $99 per year for access to the developer kits for iOS, OS X and Watch.

Apple sought to boost the flagging fortunes of the Apple iPad by introducing enhancements such as a split screen capability and a smarter keyboard that turns into a trackpad.

Apple Crystal Ball

Apple’s 3Q2015 results are due on July 20 and they are expected to be weak with no new iPhone launches during the quarter and the momentum from iPhone 6 and iPhone 6 Plus sales are likely to grow weak and customers are likely to await the launch of the next iPhone models in the next quarter.

Even so, Barclays has an ‘overweight’ rating on Apple stock with a price target of $140.

More analysts at Bloomberg have a ‘buy’ rating on the stock than those who have a ‘hold’ rating while the 12-month target price suggested by the some analysts is $148.95.

Apple has rarely disappointed the market by missing consensus revenue estimate in the last couple of years  while he company typically tends to beat consensus earnings per share (EPS) estimates. Over the past two years, Apple’s fortunes have been better in the first half of the year in terms of revenue and the company has reported the highest revenue in the year in first quarter which covers the holidays.

For the full fiscal year 2015 (FY15), Apple revenue is estimated to come in at $231.80 billion — up by almost $49 billion compared to the actual revenue for FY14. The EPS for FY15 is expected to come in at $8.99, which is $2.54 higher than FY14 EPS.