Last week was relatively quiet for Apple Inc. (NASDAQ:AAPL); having said that the company still managed to make headlines for multiple reasons. Apple started the week off with some great news; the company received approval from Chinese authorities to start iPhone sales in China. The official launch date will be October 17th whereas the final pre-order date will close on the 10th of October. It is being reported that pre-order requests from China have crossed the figure of 4 million; however the number will be confirmed after the 10th of October.
Apple had a setback when European Commission launched an investigation into a case dating back to 1991; according to the EU Irish Government gave Apple unfair tax reprieves in exchange for employment prospects. If the allegations turned out to be true, Apple will have to return all the tax money it saved through the course of the deal.
Apple was in talks with PayPal regarding PayPal becoming preferred payment method for Apple Pay but the negotiations could not go further because PayPal struck a deal with Samsung and became its premiere payment process for Galaxy s5’s finger print system.
Rumors also started circulating in the market that Apple would be adding a golden color to its iPad color palate; it is also believed that the tech giant will soon introduce a retina iMac later this month; probably a day before Apple releases its iPhone 6 in China.
Apple started its week at the stock market on 29th September, Monday at 98.65 and instantly rose up to 100.44 but later on dropped by 2 percent. The day concluded at Apple at 100.11.
The next day, Tuesday Apple Inc. kicked off the session at 100.81 and went up by one percent to 101.54. By midday it dropped again by a single percent. The day closed with Apple at 100.75- losing .6 percent in the day overall.
Wednesday wasn’t a good day at the market for Apple as the stock opened at 100.59 and clawed up to 100.69, only to drop 2 percent later on. Apple barely regained back to 99.18.
Apple started Thursday at 99.27, which is quite low by Apple standards. The stock improved a bit and went past 100.22 but plummeted instantly to 98.04. It went home with after jumping up by a minute one percent reaching a value of 99.90.
Last day of the week, Friday; Apple opened up at 99.44 and regained by hitting 100.21. Later on it dropped to 99.04 and Apple concluded the week at 99.62.
Apple’s stock performance is a bit of a surprise because Apple is accumulating a lot of cash through its iPhone 6 sales, but its stock numbers aren’t reflecting that. They didn’t show any extraordinary activity throughout the week.
It could be said that Apple Inc. (NASDAQ:AAPL) is sitting steady with not much to gain and not much to lose – a situation that a lot of companies wouldn’t mind at all. However with its China sales starting soon the company must be hoping to have an active week in the stock market.