Apple might go past Google in becoming the first trillion dollar company. Apple Inc.’s (NASDAQ:AAPL) last week proved to be great for the company’s stock market value; its stock price closed at an all time high of $112.82 and market cap surged to a mammoth 666.1 billion dollars. This means that Apple is now bigger than the combined value of all Russian public companies. Apple’s position is being backed up by the strong consumer interest in iPhone 6, despite the predictions of poor sales for its latest iPad. Also Apple Pay made a big impact on the market and the demand is growing at a quick pace.
Despite a great performance at the stock market things do not look good for Apple’s latest iPad; especially if analysts’ predictions turned out to be right. Most of them predict that the device will not be able to accumulate any major sales for the tech giant; therefore Apple should not expect any major contribution from iPad in terms of overall revenue. It is being forecasted that the year-to-year sales for iPad will go down by 40 percent next year. It looks like Apple’s dream to replicate iPhone sales with the latest iPad won’t be happening any time soon.
Apple Pay transaction statistics from major retailers across the U.S indicate massive adoption rates. The number indicating user interest is growing day by day. It’s being said that Apple Pay would generate more money than iPhone ever did – a huge assumption indeed. So on one hand the company is facing negative sales prediction for its iPad; whereas on the other Apple Pay is proving to be ray of sunshine for the iPhone maker. This comes as good news for Apple; the company is already on course to become the first trillion dollar company and it needs plenty of financial boosts from its products.
Apple Inc. started its week at the stock market on Monday, 10th of November. The initial trading price, at the start of the day, was 109.02 and improved a bit as the day went on. By midday Apple had a setback, dropping down to 108.67. Improvement came at the closing of the day and Apple wrapped up the session at 108.83.
Next day, Tuesday, Apple started its trading at 108.70 and kept improving as the day went on and reached 109.75. Later in the day a couple of losses pushed it back to 108.40. Apple closed the session at 109.70.
On Wednesday, Apple started trading at 109.38 and surged to 111.43 shortly. Later the value was pushed back to 109.37. Apple barely improved at the closing and signed off at 111.25.
Next day, Thursday, Apple started trading at 111.80 and moved up to 113.45 later in the day. Minor losses pushed it back to 111.60. Subtle improvement before the closing allowed Apple to sign off at 112.82.
Last day of the week at the stock market, Friday, Apple Inc. (NASDAQ:AAPL) began its day trading at 113.15 and moved up to 114.19 within hours. Later on the value slipped back to 113.05. At the closing of the day Apple stood at 114.18.
