Apple Inc. (NASDAQ:AAPL) was in the limelight throughout the week because of the building anticipation for the iPad and iMac, which were launched last Thursday. The event was considered major for Apple because it was supposed to be the revival of one of the most important categories of Apple, the iPad. Analysts and tech experts have been expressing apprehensions about the iPad because of its waning sales and obscurity among rising power of phablets.
Apple revealed the new iPad air 2, which features a larger 9.7 inches screen. The latest iPhone 6 features such as Apple Pay and Touch ID are also a part of these latest iPads. Processor has been upgraded to A8X, which will provide ample power; camera is a bit of a letdown, but still better than the predecessor’s 5MP.
According to the initial reaction to the new iPad, the device was considered an improvement but the market has evolved so much over the years that perhaps iPad has to do more than just upgrade a few specifications. It seems unlikely that iPad will get the same sales as iPhone.
The next big news for Apple last week was that it announced the release data of Apple Pay, 20th October. Apple Pay has received a lot of attention for bringing in transparency and privacy to the digital payment system. It is being looked as a payment system for the future. It has already started roping in big brands and banks that are interested in adopting Apple Pay for their businesses.
Apple Inc. started its week at the stock market on Monday, 13th of October, and started its trading session at 101.33. Minimal profit elevated it up to 101.78, but it suffered a drop instantly and went down to 99.81. Apple closed the day at the same.
The next day, Tuesday, Apple opened up at an improved 100.39 and rose up modestly to 100.52. Later on in the day Apple suffered a drop by two percent and landed at 98.57. Apple closed Tuesday’s trading session at 98.57.
Third day at the market, Wednesday, Apple opened up at 97.97. By mid day Apple gained some momentum and rose up to 99.15. A major loss of 4 percent brought it down to 95.18. The day concluded for Apple at 97.54.
Apple started trading on Thursday at 95.55. A couple of modest profits gave it a slight push up to 97.72. Later on the stock dropped back to 95.41. A last minute gain improved the numbers to 96.26.
Last day at the market was Friday, October 17th. Apple started trading at 97.50 and during the day went up as high as 99.00. Just when things were looking good, the losses came and the stock dropped down to 96.81. The week closed with Apple at 97.67, with an overall loss of almost 4 percent.
The last day showed some improvement, perhaps because of the Apple Inc. (NASDAQ:AAPL) iPad release event a day before, which could be an encouraging sign. The device may not get as many sales as iPhone but may just rope in enough revenue for the company.
