Apple had a fairly profitable week at the stock market. Apple Inc. (NASDAQ:AAPL) is facing its share of problems such as dwindling sales of iPads, stiffer competition and customers preferring other phones over Apple’s iPhones. Despite all this the tech giant is well poised against all odds and is well on course to become a trillion dollar corporation.
Apple’s iPhone 6 is running the risk of losing its popularity to the newly released Nexus 6, which is heavier in terms of specifications and cheaper when it comes to price. However at this point iPhone 6 has already accumulated stunning sales for its current quarter. Nexus 6 has all the chops to form a strong tablet that can compete with any tablet on the market. iPhone 6 is way ahead in terms of sales but those sales will slow down if Nexus 6 can keep its momentum going.
Currently Apple’s major concern is its dwindling iPad sales and disappointing sales forecast for its latest iPad. Apple is offering price cuts on the new iPads that are yet to be released. Never in its history has Apple offered price cuts on its latest products, which shows that the company is well aware of its tablet’s inability to attract newer customers. Although Apple is hopeful iPad will create some impact because of the holiday season, but the category is still in jeopardy.
Rumors have already started to circulate regarding iPhone 7, which is to be released in the third quarter of 2015. It is believed that its screen will be made of sapphire and the camera of the phone will have a quality similar to a DSLR camera. The phone will have an internal space of 256 GB. If these rumors are true then we must get ready for another block buster iPhone release.
Apple Inc. started its week at the stock market on Monday 24th November. The company’s stock started trading at 116.87 and immediately rose to 118.77. Later in the day Apple stock took a dip and slipped down to 116.62. Apple closed the day on 118.62, after jumping up by 2 percent.
The next day Tuesday, Apple started trading at 119.07. The value climbed up a bit and stood at 119.75; however the stock value fell later in the day and landed at 117.45. Apple concluded its trading session at 117.60.
On Wednesday, Apple began trading at 117.94 and moved up to 119.10. A little dip pushed the stock price back to 117.83. Apple closed the day at a value of 119.00.
Stock Market remained closed on Thursday due to Thanksgiving.
On Friday, Apple Inc. (NASDAQ:AAPL) started trading at 119.27. The value peaked a bit and landed at 119.40; however the stock took a dip after a while and reached the value of 118.05. Apple stock closed its trading session and the week by going up a few points and closing at 118.93.
Apple currently is in a very strong position despite its worries about iPad sales. During the week the company also hit the $700 B mark in terms of its total market cap, which speaks for the power the tech giant currently enjoys in the stock market.
