Once again the market is buzzing with rumors about Apple Inc.’s (NASDAQ:AAPL) new upcoming products, Apple Watch and the next iPhone; this however is not it!
According to reliable sources, Apple is busy developing its very own music service that will be on-demand. This news will not be well received by its rivals Spotify and Pandora, especially Pandora, because it is believed that the services and scope offered by Apple’s online music service will leave Pandora services behind.
Apple’s electric car was the center of attention this week. Apple’s electric car project known as “Titan” will pose a huge threat to the current market leaders Tesla along with other companies such as Nissan, General Motors and other electric car manufacturers. However just manufacturing the car is not the only thing, the tech giant will have to work on many other issues such as safety of the car and rules and laws for zero-emission cars. Moreover electric cars do not offer huge profit margins, which is something Apple will have to take into consideration.
One of the biggest news was Apple’s Tesla acquisition rumor; the tech giant, it seems, did its homework before entering the market for electric cars; it is set to buy what would have been its biggest competition in the electric car market, Tesla. According to rumors Apple may pay $75 billion to acquire Tesla.
A few words were also exchanged between Apple and its arch rival Motorola. According to Rick Osterloh, Motorola’s President, prices of Apple products are “outrageous” and he believes that a great smartphone or gadget shouldn’t be too expensive; it should be affordable and not an expensive luxury. This was the reaction to Jonathan Ive dig at Motorola’s Moto Maker Campaign; even though he didn’t name the company openly, but his comments left no room for doubt that he was talking about Motorola when he said that the designers of some rival companies made their own jobs easier by giving users the freedom to choose their own color and make whatever they want – the basic theme of Moto Maker Campaign.
Let’s see how this week reflected on Apple’s stock value;
Monday, Feb 16 – stock market remained closed due to President’s Day.
Tuesday, Feb 17 – the stock opened at the market at a value of 127.41 and went up as high as 128.88 during the day. The stock’s lowest value for Tuesday was 126.92 and its closing value was recorded at 127.83.
Wednesday, Feb 18 – Apple’s stock kicked off its morning trading session at a value of 127.62 and achieved the highest value for the day at 128.78; the lowest market hit by the stock on Wednesday was 127.45 whereas its closing value was 128.72.
Thursday, Feb 19 – Apple’s share started the day’s session at 128.48 and went up as high as 129.03; the lowest value achieved by the stock was 128.33 and Apple ended the day at 128.45.
Friday, Feb 20 – Apple Inc. (NASDAQ:AAPL) started the last day of the week at a value of 128.62 and its highest value for the day was recorded at 129.50 (highest value for the entire week); stock’s lowest mark for Friday was recorded at 128.05; Apple closed the session and the week at its highest value for the week, 129.50.
